Romania’s industry raked first in the European Union in October in terms of annual growth rate of new orders

The volume of new industrial orders soared by an annual 18.4 percent in Romania in October 2008, according to Eurostat, Europe’s institute of statistics, while these dropped an average 17.9 percent in the EU, and 15.1 percent in the euro zone.

“Foreign direct investments in Romania were strong in October. Foreign orders can also come from countries that are not members of the European Union,” said Lucian Anghel, Chief Economist of Banca Comerciala Romana lender.

However, the volume of new industrial orders dropped 4.8 percent in October compared to the previous month.