Oxford Economics modified Romania’s economic growth estimate for 2011 from 0.1% to 1.2% this year due to optimistic perspectives for exports and industry and following some encouraging signals from the other economic sectors, Romanian news agency Mediafax reports.

Analysts of the British institute estimated for 2011 a growth of 0.1%. Oxford Economics notes that the situation in the industry is uncertain, with ups and downs but the perspective is optimistic because the industrial production reached the highest levels in January and February and the use of the industrial capacity was close to the previous levels of the crisis.

Exports however continue to bring a significant contribution to the growth of the economy and trust in industry continued to consolidate in the first months of the year, analysts report. Moreover, the institute signals a steady extension of the economic relaunch towards other economic sectors.