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Industry and exports up in January

Industrial production (seasonally adjusted series) went up by 0.1% m/m and 7.1% y/y in January. The low base from 2009 definitely played a role in this respect and the annual growth rate could become slightly smaller starting with 2Q10.

Capital goods industry increased by 3.4% m/m but current use goods industry and durable goods remained in the negative territory due to low households demand for non-food and food items.

New orders for manufacturing are supportive for a continuation of this good performance of the industrial production since they advanced by 13.9% m/m and 16.3% y/y in January. Trade balance data mirrored the development of industry at the beginning of 2010. Both exports and imports advanced, but exports were 4.5 times faster in y/y terms (+19.8% vs +4.4%). As a result, trade deficit (FOB-CIF) stood at a mere EUR 427 million, the lowest monthly value since January 2005.

The most recent data proves again that the slow and uneven economic recovery currently underway depends heavily on the indirect support of our trade partners from Eurozone countries, while the domestic market lags behind.

Sursa: http://www.bcr.ro

Tags: industry january exports

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