Romania: Industrial production inches up in October
December 10, 2013
In October, industrial output rose 10.7% over the same month last year, which was slightly above the revised 10.3% increase observed in September (previously reported: 10.0% year-on-year). According to the National Institute of Statistics, the slight improvement came as a result of an increase in mining and quarrying as well as in manufacturing.
On a month-on-month basis, industrial production rose 1.65%, which was down from the revised 3.16% increase recorded in September (previously reported: +2.4% month-on-month). In addition, annual average growth in industrial production rose from 6.2% in September to 6.6% in October.
FocusEconomics Consensus Forecast panelists expect industrial production to expand 3.9% in 2013, which is unchanged from last month's estimate. The panel estimates that industrial output will increase 4.5% in 2014, which is also unchanged over last month's projection.
Author: Dirina Mançellari, Senior Economist