Friday, July 8, 2011

Romanian Industrial Output Accelerates First Time in 3 Months

Romanian industrial output growth accelerated for the first time in three months in May as demand for the country’s manufactured and mining products spurs an economic recovery after a two-year recession.

Production grew a seasonally adjusted 8 percent from a year earlier after a 6.3 percent rise in April, the Bucharest-based National Statistics Institute said in an e-mailed statement today. Output advanced 1.6 percent on the month.

Romania’s industry, which grew 10 percent in the first quarter and 4.1 percent in 2010, and surging exports boosted by western European demand for products including Dacia SA cars, will probably help the economy grow 1.5 percent this year, according to International Monetary Fund and government forecasts. The economy contracted 1.3 percent in 2010.

Production of manufactured goods rose 7.8 percent in May on the year, while output of mined and drilled goods jumped 16 percent. Production of electricity and thermal energy increased 6.2 percent, the institute said.

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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