Romania Industry July 2016

Romania

Romania: Industrial production contracts at fastest rate in almost seven years in July

September 14, 2016

Industrial output contracted 3.4% in July over the same month last year, which was the fastest contraction rate in almost seven years and contrasted the 1.1% expansion recorded in June. According to the National Institute of Statistics, two of the three components of the index contracted, while manufacturing grew at a slower pace.

On a seasonally-adjusted month-on-month basis, industrial production slowed from June’s revised 2.2% expansion (previously reported: +2.0% mom) to a 0.7% increase in July. Meanwhile, annual average growth in industrial production tumbled from 2.2% to 1.7%.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 2.2% in 2016, which is down 0.3 percentage points from last month’s estimate. The panel estimates that industrial output will increase 3.5% in 2017.


Author:, Economist

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Romania Industry July 2016

Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: National Institute of Statistics.


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