Romania’s industrial production went down by 0.6% in April compared to the same month of 2016, in gross terms, according to data released yesterday by the National Statistics Institute (INS).

In seasonally adjusted terms, the industrial production went up by 5.5% compared to April 2016.

The data shows a significant slowdown in industrial production compared to March, when the activity volume in this sector went up by 10.3% in gross terms and 8.2% in seasonally adjusted terms. The turnover in industry also slowed down its annual growth rate to 1.2% in April, from 14.4% in March.

Industry, which is the biggest sector of the local economy, also had the highest contribution to the record economic growth in the first quarter.

The data released yesterday by the European statistical office Eurostat also shows a rapid slowdown in Romania’s industrial production increase, from 10.8% in March to 1.3% in April. Industrial output rose by 1.4% in the European Union (EU28) and the euro area (EA19) in April, compared to the same period in 2016.

editor@romania-insider.com