Romania: Industrial output drops again in May
Industrial production dropped 28.0% year-on-year in May, a softer fall than April’s 38.7% decline, which had marked the sharpest contraction on record.
Looking at the details of the release, manufacturing output shrank at a more moderate pace in May, and mining and quarrying output also dropped at a more moderate, albeit still pronounced, rate. Meanwhile, electricity, gas, steam and air conditioning supply production dropped at a faster pace.
On a seasonally-adjusted monthly basis, industrial output rose 15.1% in May (April: -27.9% mom), the best result on record. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 10.8% in May, down from April’s minus 8.7%.