Romania: Industrial output falls slightly in March
Industrial output declined 0.2% on an annual basis in March, contrasting the 1.9% year-on-year rise in February. According to the Statistical Institute, March’s dip was largely driven by the sharp contraction of the utilities supply sector, which more than offset gains in mining and quarrying, as well as in manufacturing output.
On a seasonally- and working day-adjusted monthly basis, industrial output increased 0.3% in March, following the 0.7% month-on-month expansion in February. Annual average growth in industrial output, meanwhile, slipped to 2.5% from 2.6% in February.