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Romania's Q2 GDP growth accelerates to 4.4% y/y, consumption up 6.4% - provisional data

Romania's Q2 GDP growth accelerates to 4.4% y/y, consumption up 6.4% - provisional data Q1 2016 - Q1 2019

BUCHAREST (Romania), October 10 (SeeNews) -  Romania's economic growth accelerated to 4.4% year-on-year in the second quarter of 2019, compared to a 4.1% increase in the like quarter of 2018, official non-adjusted provisional data indicated on Thursday, confirming earlier flash estimates.

On a seasonally adjusted annual comparison basis, Romania's gross domestic product (GDP) growth accelerated to an annual 4.5%, compared with a 4.4% rise in the second quarter of last year, data of the country's statistical board, INS, showed. In flash estimates published last month, INS said Romania's GDP growth accelerated to an annual adjusted 4.5% in the second quarter.

Compared to the previous quarter, Romania's economic expansion slowed down to 1.0% in the second quarter of 2019, from a revised 1.4% in the first quarter.

INS also revised flash data for domestic consumption in the second quarter from 4.6% to 6.4%.

The industrial sector's output fell by 0.6% in the second quarter, while construction was up by 20.3%, data showed. In its September estimate, INS said industrial production was down by 0.7%, while construction output was 21.1% higher in the second quarter. The agricultural sector's output fell by 1.7% in the second quarter,confirming September estimates.

Imports of goods and services increased 5.2%, while exports grew 3.3% in the second quarter. In its September estimate, INS said imports of goods and services increased 3.6%, while exports edged up 0.5% in the second quarter.

Overall, in the first half of 2019 Romania's GDP rose by an annual non-adjusted 4.6% and by a seasonally-adjusted 4.7% year-on-year. In its September flash estimates, INS said GDP increased by an annual non-adjusted 4.7% and by a seasonally-adjusted 4.8% year-on-year in the first half.

The country's 2019 budget bill is built on projections of 5.5% economic growth and envisages a deficit equivalent to 2.76% of GDP.

Details follow,

Romania GDP Q2 2019 growth, y/y pct change
- Final consumption 6.4
- Exports 3.3
- Imports 5.2
- Agriculture -1.7
- Industry -0.6
- Construction  20.3
Total 4.4

(1 euro =4.7502 lei)

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