Romania: Industrial production contracts in August
October 10, 2013
In August, industrial output increased 4.3% over the same month last year, which was well below the revised 11.6% expansion recorded in July (previously reported: +11.4% year-on-year). According to the National Institute of Statistics, the deterioration was broad-based, with manufacturing marking the biggest drop.
On a month-on-month basis, industrial production decreased 1.0% in August in seasonally and working-day adjusted terms, which was below the 0.1% drop recorded in July. Meanwhile, annual average growth in industrial production increased from 5.1% in July to 5.3% in August.
FocusEconomics Consensus Forecast panelists expect industrial production to expand 3.9% in 2013, which is unchanged from last month's estimate. The panel estimates that industrial output will increase 4.5% in 2014, which is unchanged from last month's projection.
Author: Dirina Mançellari, Senior Economist