Romania's industrial turnover posts highest growth in two years

Romania’s industry turnover increased by 10.9% in the first quarter of the year compared to the same period last year, after a record growth pace of 14.4% in March, according to the National Statistics Institute (INS). Overall, the capital goods industry recorded the highest increase in the first quarter, namely 17.9% whereas the mining industry returned to minus during this period with an annual decrease of 0.2%. All the major industrial groups registered increases in the first quarter, with the highest rates being recorded in the capital goods industry, energy industry (12.8%), durable goods industry (9.5%), intermediate goods industry (7.5%), and current use goods (5.1%). The high growth pace in March was influenced by the manufacturing industry surge (15%). Meanwhile, the mining industry declined by 9% year-on-year. Social Democrat leader Liviu Dragnea wrote on his Facebook page yesterday that Romania recorded a growth of 14.4% in the industry’s turnover in March, the highest increase since 2014. He said that the INS data confirmed that the PSD program speeds up the economy. editor@romania-insider.com