Romania Q3 GDP growth revised up

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Romania's economy recovered at a faster than estimated pace in the third quarter of 2020, second estimates from the Bucharest-based National Institute of Statistics (INS) showed Tuesday.

Gross domestic product (GDP) grew 5.8% sequentially in the third quarter instead of 5.6% estimated previously.

The economy had contracted 12.2% in the second quarter. On a yearly basis, GDP fell 5.7% after falling 10.3% in the second quarter.

The rate was revised from 6%. During the first three quarters of 2020, GDP was down by 4.5% from the same period last year.

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