In the first quarter, GDP rose 0.3% over the same period last year, according to revised data published on 6 June. The print confirmed the flash estimate released on 15 May but came in significantly below the 1.9% expansion recorded in the fourth quarter. The quarterly reading marked the slowest expansion since the first quarter of 2011, when the economy expanded for the first time after two consecutive years of quarterly contractions. The deceleration over the previous quarter was driven by slower growth in the domestic sector. Private consumption rose 0.6% over the same period the previous year (Q4: +2.8% year-on-year), while government expenditure fell 3.8% (Q4: -3.2% yoy). On the other hand, gross fixed investment remained strong, expanding 11.8% (Q4: +10.3% yoy). Despite a small improvement, the external sector remained a drag to economic growth, as exports of goods and services contracted 2.9% in the first quarter (Q4: +4.0% yoy), while imports fell 1.2% (Q4: +5.4% yoy).
Economy back in recession in the first quarter
June 6, 2012
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Romania Economic News
October 12, 2016
Industrial output expanded 5.3% in August from the same month last year, which was the fastest expansion in one year.
October 11, 2016
In September, consumer prices inched down 0.1% from the previous month, contrasting August’s 0.1% expansion.
September 14, 2016
Industrial output contracted 3.4% in July over the same month last year, which was the fastest contraction rate in almost seven years and contrasted the 1.1% expansion recorded in June.
September 9, 2016
In August, consumer prices inched up 0.1% over the previous month, rebounding from July’s 0.2% contraction.
September 6, 2016
In second quarter of 2016, the economy expanded 6.0% over the same period of the previous year, the fastest rate of growth since Q3 2008, according to detailed data released on 6 September.