Romania: Growth in industrial production loses strength in May
According to the Statistical Institute, the expansion in May came on the back of unremarkable growth in the manufacturing sector, while the electricity and gas, steam and air conditioning; and mining and quarrying sectors contracted.
On a seasonally- and working-day adjusted month-on-month basis, industrial production output dropped 0.4% in May, contrasting April’s revised 2.3% expansion (previously reported: +2.2% month-on-month).
Meanwhile, annual average growth in industrial production fell from April’s 7.7% to 6.6% in May.
FocusEconomics Consensus Forecast panelists expect industrial production to expand 4.6% in 2018, which is up 0.3 percentage points from last month’s estimate. The panel predicts that industrial output will increase 3.9% in 2019. ■