Romania: Industrial output grows at fastest pace in over one year in September

Industrial output increased 1.6% in year-on-year terms in September, which contrasted August's 0.3% decrease. The print marked the best reading since July 2021. September's turnaround was primarily driven by an acceleration in manufacturing growth and a smaller decline in mining and quarrying output. That said, electricity output declined at a slightly steeper pace.

On a seasonally adjusted monthly basis, factory output fell 0.5% in September (August: +0.1% mom). Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 1.8% in September, up from August's minus 2.2% reading.

Our panelists expect industrial output to expand 1.7% in 2023, which is down0.1 percentage points from last month’s estimate. In 2024, the panel expectsindustrial output to increase 2.7%.