Romania: Industrial production grows at fastest rate in 18 months
April 9, 2013
In February, industrial output grew 6.8 %over the same month last year, which followed the 6.0% increase recorded in January. According to the national statistics institute, the increase was driven by healthy growth both in manufacturing as well as in mining and quarrying output.
Compared to the previous month, industrial production increased 1.0% in seasonally and working-day adjusted terms, which followed the 0.9% increase recorded in January. Building on the strong annual reading, the trend continues to point upwards, with annual average growth in industrial production rising from 2.6% in January to 3.0% in February.
Latest government forecasts published on February 2013 see industrial production at 0.7% this year and rising at 1.5% in 2014. Consensus Forecast panellists expect industrial production at 2.0% which is unchanged from last months estimate. Next year, the panel estimates industrial output to increase 4.0%.