Romania: Industrial production continues to expand strongly

According to the Statistical Institute, the acceleration came on the back of strong growth in the manufacturing and the mining and quarrying sectors, while production of electricity, gas, steam and air contracted slightly.

On a seasonally- and working-day-adjusted month-on-month basis, industrial production increased 0.7% in November, following a 1.3% expansion in October.

Meanwhile, annual average growth in industrial production improved on October’s strong showing of 7.5% growth. It ramped up to 7.9% in November—a multi-year high.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 4.6% in 2018, which is up 0.3 percentage points from last month’s estimate. The panel predicts that industrial output will increase 3.9% in 2019. ■