On the other hand, the European office of statistics Eurostat showed that the industrial production grew by 0.5 per cent in the Eurozone and by 0.9 per cent in the European Union in December 2013 when compared with the similar time span of 2012 and the largest increases with the EU member states were in Portugal and Romania. According to Eurostat, the industrial production dropped in 13 member states and went up in 10 member states.
Also, INS mentioned in the report that compared to the same month of the previous year, the industrial production rose by 10.2 per cent as gross series and by 7.9 per cent as series adjusted by number of working days and seasonality. Compared to 2012, the industrial production (gross series) has been 7.8 per cent larger in 2013, sustained by the manufacturing industry (up 9.2 per cent) and the mining and quarrying (up 2.2 per cent). The electricity, gas, steam and air conditioning supply was down 1.4 per cent.
By main industrial groupings, increases were recorded for most categories of goods: capital goods (up 11.5 per cent), consumer durables (up 10.4 per cent), intermediate goods (up 8.7 per cent) and consumer non-durables up 5.9 per cent). The energy sector was down 1.9 percent.
By main industrial groupings, increases were recorded for capital goods (11.6 per cent), consumer durables (10.5 per cent), intermediate goods (7.6 per cent), and consumer non-durables (5.8 per cent). The energy sector was down 1.5 per cent.
The same INS figures indicated that the year-over-year inflation in Romania was of 1.06 per cent in Jan. 2014, while the consumer prices were up 0.85 per cent in this Jan. from December. The prices rose an average 3.6 per cent overall in the last 12 months (Jan. 2014 – Feb. 2013) when compared to the prior 12 months (Feb. 2012 – Jan. 2013), calculated on the basis of the consumer price index (CPI). Foodstuffs were by 0.87 per cent more expensive in this Jan. from Dec., but when compared to Jan. 2013 they dropped by 2.18 per cent, the Institute said. The prices for non-foodstuffs rose 0.92 percent over a month and 2.48 per cent over the last year. Service prices increased by 0.66 per cent in Jan. from Dec. and surged 4.25 per cent over the last year. (source: business-review.eu)