Romania’s industry dwindles despite automobile industry’s decent performance

The industrial production in Romania (seasonally adjusted) edged down by 0.4% in August, marking a 5.8% y/y annual decline and an even steeper deterioration of 6.2% y/y in the core manufacturing sector – the statistics office INS announced.

The statistics office announced a combined 5.1% y/y decline for the YTD (January-August) industrial production (-4.6% y/y in the manufacturing sector), and we calculated that the 12-month rolling industrial output decline steepened to 4.4% y/y (-3.4% y/y for manufacturing) from 4.0% in the month before.

A couple of industries keep posting positive performances, primarily the automobile industry, which boasts an 8.1% y/y advance in the rolling 12-month period. The manufacturing of optical and electronic devices, mainly car parts, surged by 9.4% y/y.

Besides the automotive sector, medicines production (+2.5% y/y) and oil services (+3.9% y/y) also demonstrated positive growth.

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