Romania: Industrial activity deteriorates in November
Latest reading: Industrial production dropped 0.6% in seasonally and calendar-adjusted month-on-month terms in November (October: +0.4% mom s.a.). November’s weaker reading reflected a deterioration in manufacturing plus mining and quarrying productions. That said, energy output improved, limiting the decline.
On a seasonally and calendar-adjusted annual basis industrial output fell at a quicker rate of 1.3% in November (October: -0.9% yoy s.a.). Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 1.4% in November, up from October’s minus 1.5% reading.
Panelist insight: Commenting on the outlook, Eugen Sinca, analyst at Ertse Bank, stated:
“We think that industrial production may resume growth this year following contractions in 2023 and 2024. Our forecast for industry growth is +1.1% against the backdrop of slight acceleration in Eurozone economic growth. Domestic and external industrial surveys paint a bleak picture for the Romanian manufacturing and the recovery is likely to be slow.”