Romania: Growth in industry picks up in December
February 12, 2015
According to preliminary estimates, in December industrial output rose 3.1% over the same month of the previous year, which was notably up from the revised 0.3% observed in November (previously estimated: +2.8% year-on-year). According to the National Institute of Statistics, December’s figure came as a result of an expansion in manufacturing, as well as in mining and quarrying. Conversely, electricity, gas, steam and air conditioning posted a stronger contraction than in the previous month.
On a month-on-month basis, industrial production fell 0.2% in December, which was up from the 0.9% drop tallied in November. Despite December’s improvement, annual average growth in industrial production decreased from November’s 6.8% to 6.2%, marking the lowest reading in almost a year and a half.
Author: Cecilia Simkievich, Economist