Romania: Industrial production gains momentum in March
May 12, 2014
In March, industrial output rose 10.7% over the same month last year, which was up from the 9.6% increase tallied in February. The expansion marked the fastest growth pace in five months. According to the National Institute of Statistics, the increase came as a result of an improvement in mining and quarrying as well as in manufacturing.
On a month-on-month basis, industrial production rose 1.11%, which contrasted the revised 0.79% decrease recorded in February (previously reported: -1.26% month-on-month). In addition, annual average growth in industrial production inched up from 8.5% in February to 9.2% in March, which marked the highest rate since October 2011.
FocusEconomics Consensus Forecast panelists expect industrial production to expand 3.9% in 2014, which is unchanged from last month's estimate. The panel estimates that industrial output will increase 4.5% in 2015.
Author: Dirina Mançellari, Senior Economist