Romanian GDP Growth Eases To 0.5%, Less Than Estimated

(RTTNews) - Romania's economic growth moderated less than initially estimated in the first quarter, the latest data from the statistical office showed on Monday.

On an unadjusted basis, GDP expanded 0.5 percent annually in the March quarter, much slower than the 3.0 percent rise in the preceding three-month period. In the initial estimate, the rate of increase was 0.1 percent.

The expenditure breakdown showed that household final consumption grew 2.5 percent from last year, while general government expenditure remained flat.

Gross fixed capital formation advanced by 1.4 percent. There was a 2.5 percent fall in net exports as outflows of goods and services dropped 1.7 percent amid a 0.9 percent rise in imports.

Meanwhile, seasonally adjusted GDP growth accelerated to 2.2 percent from 1.1 percent in the previous quarter. The latest rate of growth was revised up from 1.8 percent.

Compared to the previous quarter, GDP rose a seasonally adjusted 0.7 percent in the fourth quarter, reversing a 0.5 percent contraction in the fourth quarter. The rate of increase seen in the flash estimate was 0.4 percent.