Monday, May 9, 2011

Romanian Industrial Output Growth Slows for First Time in 2011

Romanian industrial output growth slowed for the first time in five months in March amid low demand as the country struggles to recover from a two-year recession.

Production grew an annual 7.4 percent in March after 12.7 percent in February, the Bucharest-based National Statistics Institute said in an e-mailed statement today. Output fell 0.8 percent on the month.

Romania’s industry, which grew 10 percent in the first quarter and 4.1 percent in 2010, and surging exports will probably help the economy grow 1.5 percent this year, according to theInternational Monetary Fund and government forecasts. The economy contracted an annual 1.3 percent in 2010.

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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