June 9 (SeeNews) - Romania's economic growth decelerated to 2.4% year-on-year in the first quarter of 2020, compared to 5% annual increase in the like quarter of 2019, non-adjusted flash data of the country's statistical board, INS, indicated on Tuesday.
The data confirms earlier flash estimates.
Final household consumption volume rose by 3.1% in the first quarter of the year, INS data showed.
The agricultural sector output edged up by 0.5%, while gross fixed capital formation increased 5.9%. The industrial sector output lost 5.9%, while construction jumped by 23.3%.
Imports of goods and services edged up 0.8%, while exports fell 5.5% in the first quarter of 2020.
On a seasonally adjusted annual comparison basis, Romania's gross domestic product (GDP) growth slowed down to an annual 2.7%, from 5.1% in the first quarter of last year, INS data showed.
Romania's GDP grew by 0.3% quarter-on-quarter in the first quarter of 2020, compared to 1.2% quarterly growth in the fourth quarter of 2019.
In mid-April, the government revised this year's budget bill to reflect forecasts that the country's economy will contract by 1.9% and consolidated budget deficit will widen to 6.7% of the projected GDP.
Romania's economy expanded by 4.1% last year, according to INS provisional data.
(1 euro=4.8393 lei)