Romania: Industrial output records best result on record in April
Industrial output rose 63.1% in year-on-year terms in April, which followed March’s 14.5% increase. The figure marked the strongest increase on record, flattered by a low base effect. Looking at the details of the release, April’s pick up was broad-based, with manufacturing, mining and quarrying and electricity, gas, steam and air conditioning supply sub-sectors all gaining steam.
On a monthly basis, factory output grew 2.7% in seasonally-adjusted terms in April, which was better than March’s 2.1% expansion and marking the best result since August 2020. Meanwhile, the trend improved notably, with the annual average variation of industrial production coming in at minus 0.3% in April, up from March’s minus 7.1%.
FocusEconomics Consensus Forecast panelists expect industrial output to expand 8.8% in 2021, which is up 0.1 percentage points from last month’s estimate. The panel expects industrial output to increase 5.3% in 2022.