Romania: Growth in industrial production softens in Februar
According to the Statistical Institute, the healthy reading came on the back of strong growth in the manufacturing, and the mining and quarrying sectors; and a subdued increase in the steam and air conditioning, electricity and gas sector.
On a seasonally- and working-day adjusted month-on-month basis, industrial production dropped 0.7% in February, a softer decline than January’s sharp 3.4% contraction.
Meanwhile, annual average growth in industrial production was broadly unchanged from January’s strong showing of 8.1%, inching up to 8.2% in February.
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. ■