Romania: Industrial production slows down in November
January 13, 2014
In November 2013, industrial output rose 9.0% over the same month of the previous year, which was below the revised 11.2% increase observed in October (previously reported: +10.3% year-on-year). According to the National Institute of Statistics, the increase came as a result of a rise in manufacturing and in electricity, gas, steam and air conditioning supply.
On a month-on-month basis, industrial production recorded flat growth, which was down from the revised 1.99% increase recorded in October (previously reported: +1.65% month-on-month). In addition, annual average growth in industrial production rose from 6.6% in October to 7.2% in November.
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