Romania Industry October 2019

Romania

Romania: Industrial production contracts in October at sharpest rate in over a decade

December 12, 2019

Industrial production dived 7.7% on an annual basis in October, following September’s 1.2% fall and marking the sharpest contraction since May 2009. October’s slump reflected sizable contractions in all three sub-components of the index: manufacturing, mining and utilities supply.

The annual average variation in industrial output, meanwhile, edged down to minus 2.0% in October (September: -0.7%), an almost 10-year low.

On a seasonally- and working day-adjusted basis, industrial output fell 2.1% month-on-month in October (September: +0.5% month-on-month s.a.).

FocusEconomics Consensus Forecast panelists expect industrial output to increase 1.9% in 2020, which is unchanged from last month’s estimate. The panel expects industrial output to increase 2.7% in 2021.


Author: Massimo Bassetti, Economist

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Romania Industry October 2019

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


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