Romania’s industrial production went up by 1.2% in January 2015 compared to January 2014, as a gross series. The seasonally adjusted data by number of working days and seasonality showed a 3.4% increase year-on-year, according to data published by the National Statistics Institute (INS).

The industrial production growth slowed down significantly, from a 6.1% year-on-year growth rate in 2014. The industrial production was dragged down by the extracting industry, which declined by 3.8% year-on-year in January 2015, in gross terms (-1% in seasonally adjusted terms).

The output of the energy industry went down by 7.3% (6.6% in adjusted terms). The only branch that recorded growth was the manufacturing industry, whose production went up by 2.5% (5.2% in adjusted terms).

The industry is the largest contributor to Romania’s GDP. Last year, the industry generated 24% of the gross added value in the local economy and generated 0.9 percentage points of the GDP’s 2.9% growth.

Romania’s economy up in 2014 on industry, IT&C

Andrei Chirileasa, andrei@romania-insider.com