Thursday, March 11, 2010

Romanian Industrial Sales Rose for a Second Month in January

By Irina Savu

March 11 (Bloomberg) -- Romanian industrial sales rose in January for a second consecutive month because of an increase in west European demand for manufactured goods such as cars, chemical products and textiles.

Industrial sales advanced 6.5 percent from a year earlier after rising 2.8 percent in December, the Bucharest-based National Statistics Institute said in an e-mail today. On the month, sales fell 15.6 percent, after dropping 5.4 percent.

The economy contracted an annual 7.1 percent last year after the global recession cut demand for industrial exports. A recovery in western Europe will help the European Union’s second-poorest member return to growth as early as this quarter, the International Monetary Fund estimates.

The IMF, which is leading a 20 billion-euro ($27 billion) bailout package for Romania, predicts the economy will grow 1.3 percent in the full year.

Exports, which account for a third of economic output, increased 7 percent on the year in December for a second consecutive month of growth, the institute said last month. Imports dropped 18.4 percent.

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