Romania: Industrial production expands at slowest pace in 11 months
June 11, 2014
In April, industrial output rose 2.6% over the same month last year, which was well below the 10.8% increase tallied in March. The expansion marked the slowest growth pace since May 2013. According to the National Institute of Statistics, the increase came as a result of a contraction in production in the mining and quarrying sector as well as in the electricity, gas and steam sector.
On a month-on-month basis, industrial production fell 0.31%, which contrasted the revised 1.19% increase recorded in March (previously reported: +1.11% month-on-month). In addition, annual average growth in industrial production fell from 9.2% in March to 7.8% in April, which marked the slowest rate in five months.
Author: Dirina Mançellari, Senior Economist