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Financial News: Romania's Economic Growth Improves More Than Estimated

Romania's Economic Growth Improves More Than Estimated

03/08/2024 - 06:55:00 (RTTNews)

(RTTNews) - Romania's economic growth accelerated more than initially estimated in the fourth quarter, the latest data from the statistical office showed on Friday.

On an unadjusted basis, GDP expanded 3.0 percent annually in the December quarter, faster than the revised 1.9 percent rise in the preceding three-month period. That was just above the 2.9 percent rise initially estimated on February 14.

On the expenditure side, final household consumption grew by 2.0 percent, while government consumption dropped by 0.3 percent. Gross fixed capital formation advanced 3.0 percent, and net exports showed a negative growth of 2.1 percent.

Meanwhile, seasonally adjusted GDP growth slowed to 1.1 percent from 3.5 percent in the previous quarter. In the flash report, the rate of increase was 1.0 percent.

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. The latest figure was revised from a 0.4 percent fall estimated earlier.

In 2023, GDP increased by 2.1 percent as compared to 2022, revided up from 2.0 percent.

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