Romania’s industrial turnover up real 9.4% y/y in April.

By bne IntelliNews June 10, 2013

Romania’s industrial turnover index surged by a nominal 12.7% in April, reversing sharply from the 2.7% annual contraction in March, the statistics office reported. The turnover of the manufacturing companies improved even stronger than the average, by 13.1% y/y.

April turnover data indicates a likely recovery in the industrial output – but also in the exports of the month.

Both industrial output and exports weakened in March, putting another question mark on the sustainability of the 2.2% y/y GDP growth in Q1. But robust industrial output and exports performance in April would bring more optimism among analysts. Industrial production data is announced on June 11, while the foreign trade numbers for the month will be available on June 10.

In real, industrial price-deflated terms, the turnover index strengthened by 9.4% y/y – compared to a negative 0.2% y/y average performance in Q1. In the core manufacturing sector, the real growth was even more intense –11.3% y/y, compared to 1.1% y/y advance in Q1. Since the performance in March was below the Q1 average, the improvement from March to April is even more visible.

The subdued industrial price inflation in April, only 3% y/y compared to 4.5% in March and 5-6% y/y in Jan-Feb, helped the real turnover’s performance also.

  Jan-13 Feb-13 Mar-13 Q113 Apr-13
Turnover index, nominal y/y 5.3% 13.8% -2.7% 4.9% 12.7%
Ind. manufacturing turnover, nominal y/y 5.6% 14.2% -2.3% 5.2% 13.1%
Turnover index, real y/y -0.3% 8.0% -6.9% -0.2% 9.4%
Ind. manufacturing turnover, real y/y 0.7% 9.4% -5.4% 1.1% 11.3%
           
Industrial production 6.0% 7.2% 1.4% 4.7% n.a.
Ind. Prod. manufacturing 6.6% 10.3% 2.0% 6.1% n.a.
Source: INS          

Related Articles

EC clears €200mn capital increase at Romanian state-owned CEC Bank

The European Commission has approved Romania’s planned €200mn capital increase for state-owned CEC Bank, allowing the country to proceed with strengthening the lender’s financial position, ... more

Austrian bank Addiko to enter Romanian market with consumer loans first

Addiko Bank, an Austrian financial institution specialising in the consumer and SME sector operating in Central and South-Eastern Europe (CSE), is preparing to launch operations in Romania with the ... more

Moldova’s MAIB announces stronger profit and plans to expand in Romania

Moldova’s Maib bank, which plans to list its shares on the Bucharest Exchange (BVB), has reported an excellent third quarter, with net profit rising by 11% year on year to MDL1.1bn ... more

Dismiss