Romania Q1 GDP growth revised down

Figures

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Romania's economic growth improved less than initially estimated in the first quarter, latest figures from the Bucharest-based National Institute of Statistics (INS) showed on Friday.

Gross domestic product (GDP) advanced an unadjusted 6.4% year-on-year in the March quarter, which was revised down slightly from the 6.5% growth reported in the previous estimate.

During the fourth quarter, the rate of increase was 2.4%. On a seasonally adjusted basis, annual GDP growth also improved from 2.4% to 6.4%.

The first-quarter figure was revised down from 6.5%. On the expenditure side, total final consumption contributed the most to GDP, rising 6% in the March quarter compared to last year.

In contrast, gross fixed capital formation logged a moderate increase of 0.3%. Meanwhile, net exports showed no variations in the March quarter, as both exports and imports grew at the same rate of 4.7%.

Compared to the previous quarter, GDP grew a seasonally adjusted 5.1% in the fir st quarter, after rising 1.0% in the fourth quarter. The latest figure was revised down from 5.2%. 

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