Romania: Industry decelerates further in August
October 10, 2014
In August, growth in industrial output was flat over the same month last year, which was well below the 5.6% increase tallied in July and marked the weakest result since May of last year. According to the National Institute of Statistics, August’s figure came as a result of a deceleration in manufacturing that was offset by an increase in mining and quarrying as well as in electricity, gas, steam and air conditioning.
On a month-on-month basis, industrial production fell 2.75%, which followed the revised 0.55% decrease recorded in July (previously reported: -0.16% month-on-month). Annual average growth in industrial production fell from 8.8% in July to 8.5% in August.
Author: Dirina Mançellari, Senior Economist