Romanian Q1 GDP growth weakest in near 6 years

Automotive

Romania’s economic growth decelerated to 2.4% year-on-year in the first three month of 2020, compared to 5% annual increase in the same quarter of 2019, non-adjusted flash data from the country’s National Institute of Statistics (INS) indicates.

This was the weakest gross domestic product growth since the second quarter 2014.

On a seasonally adjusted annual comparison basis, GDP growth slowed down to an annual 2.7%, from 5.1% in the first quarter of last year.

On a seasonally adjusted quarterly basis, the economy grew 0.3%, after a downwardly revised 1.2% growth in the fourth quarter, INS said on May 15.

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