Romania: Industrial output grows at fastest pace in nearly two years in October
Industrial output grew 1.2% year-on-year in October, contrasting September’s 2.8% decrease, and marking the best result since March 2019.
October’s bounce back was largely attributed to rebounding production in the manufacturing and electricity, gas, steam and air conditioning supply sub-sectors. Meanwhile, decline in mining and quarrying output moderated in October.
On a monthly basis, factory output increased 2.1% in seasonally-adjusted terms in October, following September’s 1.5% expansion. Meanwhile, the trend improved sizably, with the annual average variation of industrial production coming in at minus 10.7% in October, up from September’s minus 11.4% reading.