Romania Industry July 2021

Romania

Romania: Industrial output growth cools in July

September 14, 2021

Industrial output grew 5.8% year-on-year in July, moderating from June’s 12.8% increase. The slowdown was largely attributed to weaker growth in manufacturing output. Meanwhile, mining and quarrying output swung back into contraction in July.

On a monthly basis, factory output slid 1.0% in seasonally-adjusted terms in July, contrasting the prior month’s 0.3% expansion. Meanwhile, the trend improved again, with the annual average variation of industrial production coming in at 8.0 in July from 6.7% in June.

Eugen Sinca, analyst at Erste Bank, said:

“We expect industrial output to advance by +8.0% y/y in 2021 with the risk balance tilted to the downside on concerns related to peaking-out demand, supply chain disruptions and the spreading of Delta strain.”

FocusEconomics Consensus Forecast panelists expect industrial output to expand 10.2% in 2021, which is unchanged from last month’s estimate. The panel expects industrial output to increase 5.2% in 2022, which is down 0.3 percentage points from last month’s projection.


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Romania Industry July 2021

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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