INS: Romania records an economic growth of 1.8 per cent in Q3
Romania recorded an economic growth of 1.8 per cent in Q3 of this year compared to the previous quarter, and the first nine months the GDP growth saw a 2.8 per cent growth in unadjusted terms and a 3.1 per cent seasonally adjusted growth, compared to the same period of 2013, according to the provisional data (1) released on Wednesday by the National Institute of Statistics (INS). 2014-12-04 12:21:30
Following the revision of the unadjusted terms in line with the 2010 European System of Accounts (ESA) and the seasonally adjusted terms, the GDP decreased by 0.4 per cent in Q2 2014 from Q1 2014, and it rose by 0.7 per cent compared to Q4 2013.
The most important contributions to the GDP growth in the period January 1 to September 30, 2014 compared to the same period in 2013, came from industry (+1.3 per cent), with a 30.3 per cent share in the GDP formation and whose business volume increased by 4.2 per cent, and the information and communications sector (+ 0.7 per cent), accounting for 5.2 per cent in the GDP formation and whose business volume went up by 15.3 per cent.
The reduction in construction activity, by 3.1 per cent, had a negative impact on the GDP trend, its contribution to the GDP growth having been minus 0.2 per cent. Financial brokerage and insurance had also a negative contribution to the GDP growth (minus 0.1 per cent), due to a decreasing activity volume, by 2.8 per cent respectively.
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