Romania’s industrial output index surged 11.4% y/y in July, the statistics reported. The annual growth was even stronger, of 13.3% y/y, in the core manufacturing area - while both the mining and the utilities sectors have lost ground.
July’s robust industrial performance comes after a gradual improvement in Q1 and Q2 when the annual growth accelerated to 4.7% y/y [Q1] and 7.4% y/y [Q2] from a more modest performance of 2.4% y/y in 2012.
The manufacturing sector, particularly the automotive industry, has visibly driven the growth this year. Production of road transport means increased by 24% y/y in July and by 15.3% y/y in Jan-Jul according to the statistics office data. Wood processing and furniture production also gained ground and posted annual advances of 13% and 10.1%, respectively, in Jan-Jul.
Two-digit growth rates for Jan-Jul were also reported in the industries of electric equipment [19.4% y/y], chemicals [11.4% y/y], pharmaceuticals [10.5% y/y], and other [than road] transport means [13.1% y/y].
|Industrial Output||2009||2010||2011||2012||Q1 13||Q2 13||Jul-13|
|Total, swda* q/q, m/m||n.a.||n.a.||n.a.||n.a.||2.6%||2.0%||-0.2%.|
|Mining and Quarrying||-12.0%||-6.9%||3.4%||9.9%||5.6%||6.9%||-0.1%|
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