Romania GDP Growth Slows

Romania’s economic growth moderated as initially estimated in the three months ended June, latest figures from the National Institute of Statistics showed Tuesday, RTTNews reported. Gross domestic product advanced a seasonally adjusted 1.6% sequentially in the second quarter, slower than the 1.8% rise in the first quarter. That was in line with the flash data published on August 16. On the expenditure side, total final consumption rose 5.4% and gross fixed capital formation gained by 0.6%. Both exports and imports climbed by 2.9% and 4.3%, respectively. Annually, GDP advanced at a stable rate of 5.7% in the June quarter, confirming the preliminary report. On an unadjusted basis, the economy expanded an unrevised 5.9% yearly in the second quarter, faster than the 5.7% rise in the March quarter. Moreover, this was the strongest growth since the second quarter of 2016, when GDP had grown 6%.