Wednesday, March 9, 2011

Romania January Industrial Output Rose Fastest in Three Years

Romanian industrial output growth quickened for a third month in January as manufacturers boosted production on increased demand for the country’s exports in western Europe.

Production rose 10.6 percent on the year in January, the fastest since April 2008, after gaining 6.5 percent in December, the Bucharest-based National Statistics Institute said in an e- mail today. Output grew 1 percent on the month after a 0.2 percent drop in December.

Industry grew an annual 4.1 percent in 2010, compared with a decline of 5.7 percent in 2009, helping offset waning domestic demand as the economy struggles to emerge from the worst recession on record. Gross domestic product contracted a less- than-expected in the fourth quarter, shrinking an annual 0.6 percent, helped by industry and agriculture growth.

The International Monetary Fund, which has been leading a 20 billion-euro ($27.8 billion) bailout to the Balkan nation, predicts the economy will emerge from recession this year and post growth of 1.5 percent, led by industrial expansion and export growth.

To contact the reporter on this story: Irina Savu in Bucharest at isavu@bloomberg.net.

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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