Romania: Industrial production in January records largest contraction in over six years
March 14, 2016
Industrial output fell 2.0% in January over the same month last year, marking the largest drop since October 2009 and contrasting December’s solid 4.0% expansion. According to the National Institute of Statistics, the contraction mainly reflected decreases in mining and quarrying as well as electricity, gas, steam and air conditioning supply. Adding to this, manufacturing decelerated notably.
On a month-on-month basis, industrial production fell a sizable 2.34% in January, which followed the 0.30% decrease tallied in the previous month. Annual average growth in industrial production edged down from 2.8% in December to 2.5% in January.