Romania: Economy accelerates in Q1
June 5, 2013
According to a preliminary estimate released by the statistical office on 5 June, GDP expanded 2.2% in the first quarter over the same period last year. The print marked an improvement over the 1.1% rise recorded in Q4 and overshot FocusEconomics panellists which expected an increase of 1.6%.
A quarter-on-quarter comparison, however, does not corroborate the acceleration suggested by the annual figures. GDP rose 0.7% in seasonally adjusted terms in the first quarter, which is below the 1.0% increase recorded in Q4. More detailed data will be released on 4 July.
The government expects GDP to expand 1.6% this year before accelerating to 2.2% in 2014. FocusEconomics Consensus Forecast panellists anticipate the economy to grow 1.4% this year, which is down 0.1 percentage points over the previous month's projection. For next year, the panel expects the economy to expand 2.5%.