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Financial News: Romania GDP Growth Improves In Q1

Romania GDP Growth Improves In Q1

07/08/2019 - 04:08:00 (RTTNews)

(RTTNews) - Romania's economy expanded at a faster pace in the first quarter, after slowing in the fourth quarter, latest data from the National Institute of Statistics showed on Monday.

Gross domestic product grew a seasonally adjusted 1.3 percent quarter-on-quarter in the first quarter, after a 1.0 percent increase in the fourth quarter.

Consumption grew 1 percent led by a 1.3 percent growth in household spending. Gross fixed capital formation increased 1.3 percent.

Exports rose 3.4 percent and imports increased 3 percent.

On a year-on-year basis, GDP rose a seasonally adjusted 5.0 percent, revised from the initial 5.1 percent, after a 4.0 percent expansion in the previous quarter.

The pace of expansion was the fastest since the fourth quarter of 2017, when growth was 6.7 percent.

On a non-adjusted basis, GDP grew 5.0 percent annually, after a 4.1 percent rise in the previous quarter.

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