Romania Industry

Romania

Romania: Industrial production in May records first contraction in two years

July 10, 2015

Industrial output shrank 0.5% in May over the same month last year, which marked the first contraction since May 2013 and contrasted the previous month’s 1.9% expansion. According to the National Institute of Statistics, May’s deterioration resulted from a steep drop in mining and quarrying and a mild contraction in electricity, gas, steam and air conditioning supply. Conversely, manufacturing output grew at a faster rate in May than in April.

On a month-on-month basis, industrial production contracted 0.1% in May, which came in marginally above the 0.2% drop tallied in the previous month. Annual average growth in industrial production fell from 4.5% in April to 3.4% in May.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 4.2% in 2015, which is down 0.1 percentage points from last month’s estimate. The panel estimates that industrial output will increase 4.8% in 2016.


Author: Teresa Kersting, Economist

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Romania Industry May 2015

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


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