Romania: Industrial production picks up in December
February 12, 2014
In December, industrial output rose 10.2% over the same month of the previous year, which was an improvement over the revised 9.2% increase recorded in November (previously reported: +9.0% year-on-year). According to the National Institute of Statistics, the increase came as a result of an expansion in mining and quarrying as well as in manufacturing.
On a month-on-month basis, industrial production fell 1.14%, which was down from the revised 0.14% drop observed in November (previously reported: flat growth). In addition, annual average growth in industrial production inched up from 7.2% in November to 7.9% in December.
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