Romania Q4 GDP Growth Confirmed

World

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Romania's gross domestic product (GDP) annual growth stood at 3% in the fourth quarter of 2023, unrevised from the second estimates, data from the Bucharest-based National Institute of Statistics (INS) show.

It marked the eleventh consecutive period of expansion and the fastest since the fourth quarter of 2022, boosted by rises in household consumption (3%) and gross fixed capital formation (21.4%).

By contrast, government spending contracted by 1.4%, while external trade contributed negatively to the GDP as exports shrank by 1.8% while imports grew by 2.5%.

On the production side, output grew for agriculture (16.2%), construction (14.6%), and information and communication (7.1%). In the third quarter last year, the country's GDP increased by 1.9%.

On a seasonally adjusted quarterly basis, the GDP shrank by 0.5% in Q4 of 2023, the first decline in three quarters, reversing from a 1% growth in the previous period.

For the 2023 full year, the economy expanded 2. 1%, softer than a 4.1% rise in 2022.

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