Financial News: Romanian GDP Growth Unrevised At 3.0%

Romanian GDP Growth Unrevised At 3.0%

04/09/2024 - 07:02:00 (RTTNews)

(RTTNews) - Romania's economic growth accelerated in the fourth quarter, in line with the second estimate, the latest data from the statistical office showed on Tuesday.

On an unadjusted basis, GDP expanded 3.0 percent annually in the December quarter, faster than the 1.9 percent rise in the preceding three-month period. That was in line with the second estimate published on March 8.

Further, this was the quickest expansion since the fourth quarter of 2022.

Meanwhile, seasonally adjusted GDP growth slowed to 1.1 percent from 3.6 percent in the previous quarter, as estimated.

Compared to the previous quarter, GDP dropped a seasonally adjusted 0.5 percent in the fourth quarter, reversing the 1.0 percent expansion in the third quarter, confirming the second estimate.

In 2023, GDP increased by 2.1 percent as compared to 2022. On the expenditure side, the growth was largely due to strong gains in household consumption and gross fixed capital formation.

Separate official data showed that the trade deficit of the country widened somewhat to EUR 2.17 billion in February from EUR 2.05 billion in the corresponding month last year. Both exports and imports grew by 1.0 percent and 2.0 percent, respectively, compared to last year.

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