Romania’s industry records steepest correction in past decade

Romania’s industrial production index contracted by 4.5% in October 2019 compared to the same month of 2018 and accumulated an average decline of 1.9% in the first ten months compared to the same period of last year.

The industrial output in the 12 months ending October 2019 declined by 1.4% compared to the previous 12-month period and this indicator that filters out short-term volatility is at its weakest level in nearly a decade, since January 2010.

The manufacturing industry has performed marginally better than the average, as it contracted by 3.8% year-on-year in October, by 1.6% year-on-year in the first ten months of the year, and by 1.2% year-on-year in the rolling 12-month period.

The industrial production index adjusted for the number of working days and seasonality, decreased from the previous month by 2.1%, as a result of the decreases registered by the production and supply of electricity and heat, gas, hot water and air conditioning (-4.1%), the extractive industry (-1.2%) while the manufacturing industry still marked a significant -1.1% decline.

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