Romania among affected countries

Industrial production in the euro area recorded a surprising decrease in October 2023 compared to the previous month. Romania is among the member countries affected, with a fall of 1.2%.

Overall, industrial production fell by 0.7% in the euro area and by 0.5% in the European Union. This is worrying news, especially as analysts had expected a smaller decline of 0.3%.

On an annual basis, compared to October 2022, the decline in industrial production was significant, down 6.6% in the euro area and 5.5% in the EU. Romania is again among the countries with notable declines, down 4.4%, reports Romania24. 

In the overall context of the euro area economy, which contracted by 0.1% in the third quarter, concerns about a possible recession are emerging. Analysts had initially expected a contraction of 4.6% in October compared with the same month last year, but current figures point to a more difficult situation.

It is notable that, in contrast to these negative trends, data previously published by the National Institute of Statistics in Romania showed a 0.6% increase in industrial production (gross series) in October, although adjusted, there was a 1.2% decrease.

This discrepancy between Eurostat and national data highlights the complexity of the economic situation and may indicate the need for further analysis to fully understand the factors involved in the evolution of industrial production at European level and in Romania.