Romania: Industrial output deteriorates in June
Industrial production slid 3.6% year on year in June (May: +0.5% yoy). June’s weakening was largely driven by a deterioration in electricity output. Meanwhile, mining and quarrying production dropped at a more moderate rate and manufacturing output slipped into contraction.
On a seasonally-adjusted monthly basis, factory output fell at a sharper rate of 3.9% in June (May: -0.7% mom), the worst result since May 2021. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at an over one-year low of minus 0.9% in June, contrasting May’s plus 0.2% reading.