Romania: Industrial production rise to almost two year high
June 11, 2013
In April, industrial output grew 8.5% over the same month last year, which is well above the revised 1.3% increase recorded in March (previously reported: +6.8%) and marks the highest reading since August 2011. According to the national statistics institute, the increase was driven by growth in manufacturing output.
Compared to the previous month, industrial production rose 1.9% in seasonally and working-day adjusted terms, which followed the revised 2.3% expansion seen in March. As a result of the exceptional annual reading, the trend has turned upwards, with annual average growth in industrial production rising 4.7% in April from 3.1% in March.
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%.