Romanian economy expands in Q1

Automotive

Romania gross domestic product rose 2.1% from a year earlier, compared with 1.1% in the fourth quarter last year, according to a flash estimate of the National Statistics Institute. GDP rose a seasonally adjusted 1.4% from the Q1 of last year and 0.5% from the previous three months. Romania, which is counting mainly on European Union demand for its goods, such as Renault SA’s Dacia cars, to support exports and growth, avoided a recession in the Q4 of last year. GDP advanced a seasonally adjusted 0.4% from the previous quarter as domestic consumption and industry offset a poor harvest and a 25% agricultural slump. Industrial production increased a seasonally adjusted 4.8% from a year earlier in the Q1, according to the Bucharest-based institute. Retail sales increased 0.8%, while exports expanded 4.6%, according to data released this month.

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