Romania’s industry is losing ground despite marginal advance in July

Romania’s industry is losing ground despite marginal advance in July

/ bne IntelliNews

By bne IntelliNews September 14, 2023

Romania’s seasonally-adjusted industrial output index increased by 0.6% m/m and by 0.9% m/m for the core manufacturing sector in July, the statistics office INS announced.

However, this has not altered the overall medium-term downward trend of Romania’s industry: the output was 6.2% smaller compared to July 2022 and 12.2% smaller compared to July 2019.

The decline was similar for the manufacturing sector: 6.0% y/y and 13% compared to the pre-pandemic year 2019.

Romania’s industry thus contracted by 3.2% per annum on average over the past four years (-3.4% for the manufacturing sector) and the decline was steeper over the past year.

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