Romanian industry grows by 5.3% in August

The local industry, the sector which accounts for almost a quarter of the Romanian economy, saw an advance of 5.3% in August compared to the same month last year. It was the highest increase in the last 12 months, and it was mainly due to the significant advance in the key manufacturing sector, according to the National Statistics Institute (INS). The mining and quarrying industry recorded a significant decline of 16.5% in August whereas the production and supply of electricity and gas dropped by 3.7% year-on-year. In July, the local industry recorded a decline of 3.4% compared to July last year. Except for August, the industrial production also saw a significant increase this year in April, with an advance of 3.4% year-on-year, after a modest start this year. In the first eight months of this year, the industrial production went up 1.1% as the manufacturing industry say a 2.1% growth. editor@romania-insider.com