According to the flash estimate released on 15 November by the National Institute of Statistics (INS), GDP contracted 0.6% in the third quarter over the same period last year. The reading contrasted market expectations of zero growth and marked the first contraction recorded since the last quarter of 2010. The third quarter reading contrasted the 1.1% expansion tallied in Q2, as the Eurozone crisis dampened economic activity. In seasonally adjusted terms, the economy contracted 0.5% over the previous quarter, contrasting the 0.5% rise tallied in Q2. A revised and more complete set of data will be published on 6 December.
Economy contracts in Q3
November 15, 2012
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Romania GDP Chart
Note: Year-on-year changes of GDP in %.
Source: National Institute of Statistics and FocusEconomics Consensus Forecast.
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.