Romania Industry May 2022

Romania

Romania: Industrial output expands at fastest pace since June 2021 in May

July 13, 2022

Industrial production grew 6.4% year on year in May (April: -9.0% yoy). May's reading marked the best result since June 2021. Looking at the details of the release, May's pickup was broad-based, with the manufacturing, mining and quarrying and electricity, gas, steam and air conditioning supply sub-sectors all improving.

On a seasonally-adjusted monthly basis, factory output fell 0.1% in May (April: +0.3% mom). Meanwhile, annual average industrial production growth fell to 0.2% in May (April: +1.5%), which marked an over one-year low.

Our panelists expect industrial output to expand 2.0% in 2022, which is down 1.6 percentage points from last month’s estimate. In 2023, the panel expects industrial output to increase 3.7%.


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Romania Industry May 2022

Note: Year-on-year and annual average variation of seasonally- and working day-adjusted industrial production index in %.
Source: National Institute of Statistics.


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