Romania: Industrial production rebounds in June
August 9, 2013
Industrial output grew 5.1% over the same month last year in June, which contrasted the revised 1.7% drop recorded in May (previously reported: -2.1%). According to the national statistics institute, the increase was broad-based, with all industries showing an improvement over last month.
Industrial production rose 5.7% in seasonally and working-day adjusted terms compared to the previous month, contrasting the revised 9.1% drop seen in May (previously reported: -10.7%). As a result of the strong annual reading, the trend now points upwards, with annual average growth in industrial production increasing from 4.1% in May to 4.4% in June.
FocusEconomics Consensus Forecast panellists expect industrial production to expand 3.9% in 2013, which is unchanged from last month's estimate. The panel estimates that industrial output will increase 4.5% in 2014.