Romania: Industrial production improves markedly in May
July 10, 2014
In May, industrial output rose 12.5% over the same month last year, which was well above the 1.4% increase tallied in April. The expansion marked the fastest growth pace since August 2011. According to the National Institute of Statistics, the increase came as a result of an acceleration in production in the mining and quarrying sector as well as in manufacturing.
On a month-on-month basis, industrial production rose 2.62%, which contrasted the revised 1.02% drop recorded in April (previously reported: -0.31% month-on-month) and marked the fastest growth rate in four months. In addition, annual average growth in industrial production rose from 7.7% in April to 8.9% in May.
Author: Dirina Mançellari, Senior Economist