Romania's Industrial Output Declines
Romania's industrial output volume index decreased by 3.3% year-over-year in August, according to the National Institute of Statistics (INS).
The negative growth rate was unexpected, as the country's industry had shown improvement over the past half year.
- The seasonally-adjusted production index dropped by 2.1% month-over-month, reaching a new post-COVID record low after four consecutive months of decline.
- The industrial output over 12 months to August decreased by 1.2% year-over-year compared to the previous 12-month period.
The weak reading in August reversed the positive trend, resulting in a negative annual growth rate of -5.3%.
Author's summary: Romania's industrial output declines to a record low.