Industrial Output in Romania
Romania's industrial output volume index contracted by 3.3% year-over-year (y/y) in August, according to data from the statistics office INS.
The negative annual growth rate was unexpected, as the outlook for the country's industry had seemed to improve over the past half year.
- The seasonally-adjusted production index dropped by 2.1% month-over-month (m/m), marking a new post-COVID record low after four consecutive months of decline.
- The industrial output in 12 months to August dropped by 1.2% y/y 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% over the rolling 12 months to August, from a positive growth rate calculated a month earlier.
No specific quotes available in the text.
Author's summary: Romania's industrial output hits new record low.
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