Tuesday, February 9, 2010

Romanian December Industry Sales Rise for First Time Since 2008

By Adam Brown

Feb. 9 (Bloomberg) -- Romanian industrial sales rose in December for the first time in 14 months thanks to an increase in western European demand for exports of furniture, cars and textiles.

Industrial sales increased 2.8 percent on the year in December after declining 6 percent in November, the Bucharest- based National Statistics Institute said in an e-mail today. On the month, sales dropped 5.4 percent.

The economy contracted an annual 7.1 percent in the third quarter last year after a decline in global trade depleted demand for industrial exports. A return of demand from western Europe will help the European Union’s second-poorest member return to growth this quarter, the International Monetary Fund estimates.

In December, exports increased 7 percent on the year for a second consecutive month of growth, the institute said today in a separate release. Imports dropped 18.4 percent.

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