Romania: Industrial production contracts in April
June 14, 2017
Industrial output swung to a 0.6% contraction in April from the same month last year, from March’s 10.9% expansion (previously reported: +10.3%). This marks the lowest result in nine months. According to the National Institute of Statistics, a contraction in both the electricity, gas, steam and air conditioning supply sector and in manufacturing drove the decline and offset an expansion in the mining and quarrying sector.
On a seasonally-adjusted month-on-month basis, industrial production swung from March’s 2.7% expansion (previously reported: +2.6% month-on-month) to a 0.5% contraction in April. Meanwhile, annual average growth in industrial production rose 3.2% in April, down from March’s 3.5%.
Author: Nihad Ahmed, Economist