Romania: Industrial output grows at softer pace in May
Industrial output grew 30.4% in year-on-year terms in May, moderating from April’s 64.7% jump. Looking at the details of the press release, May’s slowdown was broad-based with mining and quarrying, manufacturing and electricity, gas, steam and air conditioning supply output all deteriorating from the prior month.
On a monthly basis, factory output tumbled 8.5% in seasonally-adjusted terms in May, contrasting April’s 3.7% increase and falling at the sharpest rate in over a year. Meanwhile, the trend improved markedly, with the annual average variation of industrial production coming in at 4.4% in May, up from April’s minus 0.2%.
FocusEconomics Consensus Forecast panelists expect industrial output to expand 9.3% in 2021, which is up 0.5 percentage points from last month’s estimate. The panel expects industrial output to increase 5.5% in 2022.