Industrial production slows down

Industrial production, one of the leading indicators in the economy, continued to rise in October, but slowed down its pace to 2%.

According to data from the National Statistics Institute, industrial production went up by 2% in October against October 2009, one of the lowest rates. Industrial output was flat compared with September. The slowdown of industrial growth in the last few months of the year was anticipated by analysts considering the continuous deterioration of economic operators' expectations and the slow recovery of Romania's main foreign trade partners.
ING analysts say industrial activity data are not favourable to fourth-quarter GDP data and signal a slowdown in exports, but the slower decline in the volume of construction works could partially offset this.
Industry continued its rise in the third quarter, but at a slower pace than in April-June, 4.2%.
Since it returned to growth, in November last year, industrial production fluctuated significantly from one month to the next. The lowest year-on-year growth rate was recorded in February.