Romania: Industrial activity contracts at sharper pace in August
Industrial production fell 5.6% year on year in August (July: -5.2% yoy). The weakening was largely due to a deterioration in manufacturing output. In contrast, mining and quarrying production gained steam.
On a seasonally adjusted monthly basis, factory output fell 0.4% in August (July: +0.7% mom). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at a two-year low of minus 4.1%, down from July’s minus 3.6%.