Romania: Growth in industry decelerates in October
December 12, 2014
In October, industrial output rose 3.7% over the same month last year, which was down from the revised 6.4% increase observed in September (previously estimated: +6.1% year-on-year). According to the National Institute of Statistics, October’s figure came as a result of an expansion in manufacturing as well as in mining and quarrying, while electricity, gas, steam and air conditioning contracted over the previous month.
On a month-on-month basis, industrial production rose 0.47%, which was below the 2.74% increase recorded in September. Annual average growth in industrial production fell from 8.1% in September to 7.5% in October, which marked the lowest reading in 11 months.
Author: Dirina Mançellari, Senior Economist