Romania: GDP expands at fastest pace in over five years
February 14, 2014
According to a preliminary estimate released by the statistical office on 14 February, GDP expanded 5.2% over the same period of the previous year in the last quarter of 2013. The figure marked the largest expansion since Q3 2008 and was an improvement compared to the 4.1% increase recorded in the third quarter. More detailed data will be released on 5 March.
On a quarter-on-quarter basis, GDP rose 1.7% in seasonally-adjusted terms in Q4, which was slightly above the 1.6% expansion recorded in the third quarter.
The government expects GDP to expand 2.2% in 2014. FocusEconomics Consensus Forecast panelists expect the economy to grow 2.5% in 2014, which is unchanged over the previous month's projection. For 2015, the panel expects the economy to expand 2.9%.
Author: Dirina Mançellari, Senior Economist