Romania: Industrial production gains steam in October

Industrial output expanded 3.5% in annual terms in October, well above September's 0.5% growth rate, which had marked the weakest record in 17 months. According to the Statistical Institute, the expansion in October came on the back of healthy growth in the manufacturing, and electricity and gas, steam and air conditioning sectors. On the other hand, the mining and quarrying sector contracted.

On a seasonally- and working-day adjusted month-on-month basis, industrial production output rose 0.1% in October, following September’s stronger 0.3% expansion. Annual average growth in industrial production, meanwhile, dropped from 5.6% in September to 4.9% in October, the lowest reading in 16 months.

Romania Industrial Production Forecast

FocusEconomics Consensus Forecast panelists expect industrial production to expand 3.9% in 2019, which is unchanged from last month’s estimate. The panel predicts that industrial output will increase 3.3% in 2020.