Romania's industrial business brakes annual growth rate to 6% in August

Revenues in Romania's industry advanced 6 percent in August versus the same month of the previous year, following hike in the extractive industry, data from the country's statistics body (INS) show.

They added 13.7 percent year-on-year in July.

Turnover in the extractive industry hiked by 10.3 percent in August, next to the one in the processing industry which posted a 6.2 percent annual growth. Revenues in electricity, heat, gas and water sector rose 2.7 percent.

Capital goods industry witnessed the most significant hike in revenues in the mentioned period, of 25 percent. Turnover for intermediary goods increased 2.9 percent, in the power industry 2.6 percent and in the current goods industry 0.8 percent. Business in long-term goods industry dipped 1.6 percent.

Industrial business dropped 12.8 percent in August compared to July

Revenues in Romania's industry lost 12.8 percent in August versus July, following lower business on all industrial branches. The most significant drop in business was recorded in electricity, heat, gas and water industry, where revenues reduced by 14.8 percent, followed by the processing industry with 13 percent and the extractive industry with 1.8 percent.

Turnover in the capital goods industry saw massive drops, of 25.7 percent, long-term goods industry reduced 16.8 percent, intermediary goods industry by 12.8 percent and the power sector by 6.9 percent.

The power sector contributed the most at the growth of industrial business in the first eight months

Industrial business rose by 7.3 percent in the first eight months compared to the similar period of the previous year, underpinned by hike in electricity, heat, gas and water (26.1 percent) and the processing industry (5.4 percent), while the extractive industry slipped 2.1 percent.

The capital goods industry went up 18.7 percent from January to August, the power industry climbed 14.2 percent, the intermediary goods industry added 5.8 percent and the current goods industry inched 3.9 percent, while the current goods industry reduced 2.5 percent.

NewsIn