The industrial output, one of the main indicators of theeconomy, rose for the ninth month in a row in July, though at aslower pace of 2.3% compared with the same time last year.
Industrial output growth in the first six months stood at 5.3%(gross series) and 4% (seasonally adjusted series).
Compared with June, however, the trend was hardly encouraging, asthe industrial output went down both as gross series and asseasonally adjusted series, by 2.3% and 0.8%, National StatisticsInstitute data reveal.
"Industrial sector figures reveal that the industry is showingsigns of fatigue and we expect its growth to slow down in thecoming months, as a result of the constant deterioration of theexpectations of the economic operators and of the slow rebound ofour main foreign trade partners," said Melania H`ncil`, chiefeconomist of Volksbank.
That the industrial output is still on the rise in annual terms islargely because of foreign demand, as the main exporters now arethe automotive and petrochemical industries.
Industry, however, does not have sufficient strength to pull theeconomy out of recession alone, while domestic consumption remainsreally weak.
July did not bring good news for those countries that resumedeconomic growth, either.
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