Romania: Industrial production picks up in November
January 10, 2012
In November, industrial output expanded 4.3% over the same month the previous year, which was above the 4.0% expansion observed in October. The reading was entirely driven by stronger energy supply production, whereas manufacturing decelerated and only mining contracted over the previous month. A month-on-month comparison corroborates the improvement suggested by the annual figures. In November, industrial production rose 0.3% in seasonally and working-day adjusted terms over the previous month, contrasting the 0.1% drop seen in October. In spite of the increase, annual average growth in industrial production eased from 6.9% in October to 6.6% in November. The government expects the economy to grow between 1.5% to 2.0% this year.