Industrial production soared by 15.7% in May 2006 compared with the same period of last year and by 5.9% in the first five months of this year, marking a record high for the latest period.
Industry thus seems to be growing after last month's stagnation, when output surged by a mere 0.6% because of fewer working days, according to information the National Statistics Institute published yesterday.
"Industry is currently reporting an increased rate of growth, even topping our expectations," says Ion Ghizdeanu, chairman of the National Prognosis Commission.
The official prognosis for industrial output this spring pointed to a rate of only 3% for the entire year, but these figures will certainly be revised upwards when the next prognoses are launched," says Ghizdeanu.
Industry labour productivity surged by almost 20% this May compared with the same month in 2005, and in the first five months productivity growth stood at almost 10%.
Industries boasting the highest rates of growth are the extraction industry, the chemical industry, the furniture and transportation industries.
Thus, the industry comprising of "other extraction activities", primarily tracking the extraction of construction materials, went up by 52% in May and posted growth by 24% in the first five months of this year.
The chemical industry, with a growth of almost 40% in May and 10% in the first five months of the year, posts the second-largest growth in terms of productivity.
Constructions increased by 11.8% in May and by 15.8% in the first five months. In the case of constructions, the growth rate posted in May signals a slight acceleration against the pace seen in April, however, it indicates a slowdown when compared with the first quarter of the year.
In May, retail witnessed growth by 34.2% and increased by 25.1% in the first five months.
The pace of growth registered in May is also a record for the latest period, given that such growth rates are specific to December and April.
Other production increases were reported by the transportation sector, which covers both road (plus 29% in May) and non-road (38% higher in May) sectors.
Even though statistical data points to 35% production growth in May and an increase by 18% in the first five months of the furniture market, the current leader of the furniture retail market says production is in fact stagnating.
"We are at the level of last year in terms of production and sales, both on the domestic and foreign markets," says Dan Sucu, Mobexpert chairman and majority shareholder.
Wood processing also posted a 19% growth in production in May and 6% in the first five months of the year.
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