Romania's Industrial Output Declines
Romania's industrial output volume index contracted by 3.3% year-over-year in August, according to the National Institute of Statistics (INS).
The seasonally-adjusted production index dropped by 2.1% month-over-month, 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% year-over-year compared to the previous 12-month period, reversing the positive trend to a negative annual growth rate of -5.3%.
The negative annual growth rate came as a surprise, after the outlook for the country's industry seemed to have improved over the past half a year.
- Year-over-year contraction: 3.3%
- Month-over-month decline: 2.1%
- 12-month decline: 1.2% year-over-year
Author's summary: Romania's industrial output reaches new record low.
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