Romania: Industrial output accelerates in December
February 8, 2011
In December, industrial output rose 10.0% over the same month last year, which represented an acceleration from November's 7.9% expansion. The acceleration was broad-based. That said, the main drivers were faster growth in manufacturing, which rose 11.5% (November: +9.3% year-on-year), as well as the production and supply of electric and thermal energy, which accelerated to a 5.2% expansion (November: +2.1% yoy). In addition, mining and quarrying rebounded from a 3.8% contraction in November to a 0.2% expansion. A month-on-month comparison does not corroborate the robust annual figures. Industrial production contracted a working-day and seasonally adjusted 0.2% over the previous month, which contrasted the 1.7% increase in November. The upward trend was curbed, with annual average growth in industrial output inching down from 5.6% in November to 5.5% in December. The government expects the economy to return to positive growth this year and expand 1.5%, following an estimated 2.0% contraction in 2010.