Romania: Industrial production drops in August
October 10, 2012
In August, industrial output fell 1.7% over the same month last year, which contrasted the 2.9% increase observed in July. The reading reflected a contraction in manufacturing, which offset growth in mining and energy production. Compared to the previous month, industrial production dropped 1.1% in seasonally and working-day adjusted terms, which contrasted the revised 0.6% increase recorded in July (previously reported: -1.1% month-on-month). As a result of the annual contraction, annual average growth in industrial output fell from 2.2% in July to 1.2% in August, the lowest level since April 2010.
Author: Armando Ciccarelli, Head of Data Solutions