Romania: Industrial production moderates in March
May 14, 2013
In March, industrial output grew 1.3% over the same month last year, well below the 6.8% increase recorded in February. According to the national statistics institute, the increase was driven by growth in manufacturing output.
Compared to the previous month, industrial production rose 0.3% in seasonally and working-day adjusted terms, which followed the 0.7% increase recorded in February and marked the lowest rise in five months. As a result of the subdued annual reading, the trend has flattened, with annual average growth in industrial production remaining stable at March's 3.1%.
Latest government forecasts published on February 2013 see industrial production at 0.7% this year and rising 1.5% in 2014. FocusEconomics Consensus Forecast panellists expect industrial production to expand 2.0% which is unchanged from last months estimate. Next year, the panel estimates industrial output to increase 4.0%.