Romania’s industry marks steepest decline since 2009 recession

Romania’s industry marks steepest decline since 2009 recession
By Iulian Ernst in Bucharest December 13, 2019

Romania’s industrial production index contracted by 4.5% y/y in October and accumulated an average decline of 1.9% in the first ten months compared to the same period of last year, the statistics office INS said.

Industrial output in the 12 months ending October 2019 declined by 1.4% compared to the previous 12-month period and this trend indicator is at its weakest level in nearly a decade, since January 2010.

The manufacturing industry performed marginally better than the average over the 12 months, as it contracted by 3.8% y/y in October, by 1.6% y/y in the first ten months of the year, and by 1.2% y/y in the rolling 12-month period.

The industrial production index adjusted for the number of working days and seasonality decreased from the previous month in October by 2.1%, as a result of the decreases registered by the production and supply of electricity and heat, gas, hot water and air conditioning (-4.1%), and the extractive industry (-1.2%), while the manufacturing industry marked a significant -1.1% decline.

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