Romania: Industrial output drops in December
February 10, 2012
In December, industrial output fell 2.3% over the same month the previous year, which contrasted the 4.3% expansion observed in November and marked the first negative reading since February 2010. The decline was entirely driven by a contraction in the manufacturing sector. Compared to the previous month, industrial production remained unchanged in seasonally and working-day adjusted terms, which followed a 0.3% increase in November. For the full year 2011, industrial output rose 5.6%, virtually unchanged from the 5.5% expansion recorded in 2010. The government expects the economy to grow between 1.5% and 2.0% this year.