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