Romania, second in EU in terms of July 2008 industrial output figures

Romania reported a 3% increase in industrial production in July 2008, on an annual basis, the second best in the European Union, after Lithuania and Poland’s 3.7% annual growth, according to data with the Eurostat European Union’s official statistics office.
On a monthly basis, Romania’s industrial output was down 2% in July 2008. The only European Union member states to record further decreases were Slovenia, which decrease was 5.4%, and the Netherlands, with a 2.2% decline.
In July 2008 compared with June 2008, seasonally adjusted industrial production fell by 0.3% in both the euro area (EA15) and the European Union (EU27). In June, production decreased by 0.2% in both zones. In July 2008 compared with July 2007, industrial production declined by 1.7% in the euro area and by 1.3% in the EU27.

Economists were expecting a 0.3% decline in the industrial output on a monthly basis, but compared with July 2007, Eurostat data exceeded by far the estimates of analysts consulted by Doe Jones Newswire, who were betting on a 0.6% fall.
Available data indicate that industrial production advanced in 11 members states of the EU in July 2008 and declined in 10 other. On an annual basis, industrial output went down in 13 member states and up in 8 other.
In the case of Romania, data with the Romanian National Statistics Institute (INS) reveal the industrial output was down 1.4% in July 20908 from June 2008, but up 5.1% on an annual basis. Industrial production advanced 5.8% throughout the first seven months of 2008 compared with the first seven months of 2007. The advancement in the first seven months of 2008 was sustained by positive developments in the processing industries, which increased 6.4%, and in the electricity, heat, water and gas industry, which went up 6.5% annually.
The mining industry recorded a 0.8% fall.
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