Romania: Industrial output surges in November
January 12, 2011
In November, industrial output rose 7.9% over the same month last year. The reading represented a steep acceleration from October's 1.6% expansion. The acceleration was mainly driven by faster growth in manufacturing, which surged 9.3% (October: +1.7% year-on-year) on increased demand from Western Europe, as well as a less pronounced contraction in mining and quarrying which dropped 3.8% (October: -9.8% yoy). Meanwhile, production and supply of electric and thermal energy decelerated, expanding 2.4% (October: +7.1% yoy). A month-on-month comparison corroborates the robust annual figures. Industrial production expanded a working day and seasonally adjusted 1.6% over the previous month, which was well above the 0.6% increase in October. The trend continues to point upwards, with annual average growth in industrial output picking up from 5.3% in October to 5.6% in November. The government expects the economy to return to positive growth this year and expand 1.5%, following an estimated 2% contraction in 2010.