Romania: Industrial production accelerates in May
July 8, 2011
In May, industrial output rose 7.1% over the same month the previous year. The reading represented a strong acceleration from April's 3.6% expansion and marked the first improvement in three months, owing to higher demand for the country's manufactured products. A month-on-month comparison corroborates the deceleration suggested by the annual figures. In May, industrial production expanded a working-day and seasonally adjusted 1.6% over the previous month, following a 0.5% increase in April. Annual average growth in industrial output inched up from 6.8% in April to 6.9% in May. The government expects the economy to return to positive growth this year, expanding 1.5% in 2011, before accelerating to 4.5% in 2012.