INSSE: Romania’s GDP, 1.9 pct growth in Q3 over Q2

Romania’s economy resumed its uptrend in the third quarter of 2014, according to the “flash” estimates released by the National Institute of Statistics (INSSE) which reveal a 1.9 percent growth of the Gross Domestic Product (GDP) in Q3 compared to the previous three months.

Based on the first estimates, the GDP increased by 3.3 percent year-on-year in the third quarter of 2014, as per the seasonally adjusted series, and by 3.2 percent, respectively, for the unadjusted series.

Hence, the domestic economy recorded an overall advance by 2.8 percent in the first nine months of 2014 over the same period last year, while at six months, the annual growth rate was 0.4 percent lower. The figures concern the unadjusted series, though, as in terms of seasonally adjusted series, the GDP went up by 3.1 percent year-on-year between January and September 30, 2014.

The same report of the INSSE indicates that Romania avoided the technical recession, as the results corresponding to the first two quarters were reviewed and only Q2 saw a slight decline by 0.3 percent, while in the first three months of 2014, the GDP increased by 0.5 percent. Previous reports announced a 0.1 percent decrease in Q1, followed by a 0.9 percent drop in Q2.