Romania Q1 Economic Growth Improves As Estimated

(RTTNews) - Romania's economic growth accelerated as initially estimated in the March quarter, latest data from the statistical office showed on Wednesday.

Gross domestic product advanced an unadjusted 6.5 percent year-on-year in the first quarter, faster than the 2.4 percent rise in the fourth quarter.

That was in line with the flash data published on May 17.

On a seasonally adjusted basis, annual GDP growth also improved from 2.4 percent to 6.5 percent, as estimated.

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 5.2 percent in the first quarter, after rising 1.0 percent in the fourth quarter. The figure matched the flash estimate.