Romania Industry October 2020

Romania

Romania: Industrial output grows at fastest pace in nearly two years in October

December 14, 2020

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.

FocusEconomics Consensus Forecast panelists expect industrial output to expand 7.7% in 2021, which is unchanged from last month’s estimate. The panel expects industrial output to increase 5.1% in 2022.


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Romania Industry October 20 20

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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