Romania's industrial production declines 5pct seven months into 2023 (statistics)
Romania's industrial production declined 5% unadjusted and 5.1% when adjusted for working days and seasonality in the first seven months of 2023, y-oy, show data published on Wednesday by the National Institute of Statistics (INS).
The decreases at the end of July 2023 are the result of decreases in the production and supply of electricity and thermal energy, gas, steam and air conditioning (-11.2%) and the manufacturing industry (-4, 4%). On the other hand, mining and quarrying grew by 3% unadjusted.
When adjusted for working days and seasonality, the 5.1% decrease y-o-y in industrial production was the result of decreases in production and supply of electricity and thermal energy, gas, steam and air conditioning (-11.2%) and in the manufacturing industry (-4.4%). In contrast, mining and quarrying was up 3%.
July 2023 industrial production unadjusted was down 2.1% on a monthly basis due to the results in the manufacturing industry (-3.1%) and mining and quarrying (-0.4 %). At the opposite end is the production and supply of electricity and thermal energy, gas, steam and air conditioning, up 4.4%, from one month to the next.
When adjusted for working days and seasonality it was 0.6% up the previous month on a +0.8% increase in the manufacturing industry. Mining and quarrying as well as the production and supply of electricity and thermal energy, gas, heat and air conditioning decreased by 2.2% and 0.6%, respectively.
Y-o-y, July 2023 industrial production was down 6.2% unadjusted as a result of declining production and supply of electricity and thermal energy, gas, steam and air conditioning (-11.3 %) and a declining manufacturing industry (-6%). The only increase was reported by mining and quarrying (+3.9%).
When adjusted for working days and seasonality, it was down 5.3% on decreases in the production and supply of electricity and thermal energy, gas, steam and air conditioning (-12%) and the manufacturing industry (-5.5%). Mining and quarrying was up 4.1%.
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