Romania: Industrial production slows down in January
March 11, 2015
According to preliminary estimates, in January industrial output rose 1.2% over the same month last year, which was down from the 3.1% increase tallied in December. According to the National Institute of Statistics, January’s deceleration was mainly the result of a strong contraction in mining and quarrying, which tumbled after a significant rise was tallied in the previous month. Conversely, manufacturing accelerated compared to the previous month, while electricity, gas, steam and air conditioning improved somewhat in January, although the category did continue to post a contraction.
On a month-on-month basis, industrial production rose 0.9% in January, which was up from the 0.1% increase observed in December and marked the highest reading in four months. Annual average growth in industrial production decreased from December’s 6.2% to 5.4% in January.
Author: Cecilia Simkievich, Economist