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Financial News: Romania Q1 GDP Growth Revised Down

Romania Q1 GDP Growth Revised Down

07/08/2022 - 04:15:00 (RTTNews)

(RTTNews) - Romania's economic growth improved less than initially estimated in the first quarter, latest figures from the statistical office showed on Friday.

Gross domestic product advanced an unadjusted 6.4 percent year-over-year in the March quarter, which was revised down slightly from the 6.5 percent growth reported in the previous estimate.

During the fourth quarter, the rate of increase was 2.4 percent.

On a seasonally adjusted basis, annual GDP growth also improved from 2.4 percent to 6.4 percent. The first quarter figure was revised down from 6.5 percent.

On the expenditure side, total final consumption contributed the most to GDP, rising 6.0 percent in the March quarter compared to last year. In contrast, gross fixed capital formation logged a moderate increase of 0.3 percent.

Meanwhile, net exports showed no variations in the March quarter, as both exports and imports grew at the same rate of 4.7 percent.

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

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