Romania: Industrial output grows at fastest pace in nearly two years in December
Industrial production expanded 1.6% in annual terms in December 2020 (November: +0.5% yoy). The reading marked the best result since February 2019. December’s pickup was largely attributed to a rebound in manufacturing output. Meanwhile, mining and quarrying output contracted at a more moderate pace. All in all, industrial production plunged 9.6% in 2020, falling at a sharper pace than 2019’s 3.3% drop and logging the worst contraction in over two decades.
Meanwile, on a seasonally-adjusted monthly basis, industrial output rebounded, rising 0.9% in December (November: -0.4% s.a. mom). Lastly, the trend improved, with the annual average variation of industrial production coming in at minus 9.5% in December, up from November’s minus 10.1% reading.