Romania confirms Q3 GDP growth at 4.1% y/y, corrects downward consumption estimates

By bne IntelliNews January 13, 2014

Romania’s statistics office INS confirmed under its second estimate that the country’s GDP advanced by 4.1% in Q3 2013 alone and by 2.7% y/y in Jan-Sep.

Nominally, the Q3 GDP was corrected downward by 0.5% to RON 174.5bn [EUR 39.3bn] and this also resulted in a 0.2% negative correction of the Jan-Sep GDP that was re-estimated at RON 442.3bn [EUR 100.3bn]. No correction was operated on the Q1 and Q2 GDP.

The main difference compared to the first estimate of the Q3 GDP is that the consumption has actually stagnated – and not increased slightly as previously estimated.

Thus, the total [private and public] consumption edged down by 0.1% y/y in Q3 compared to a small 0.6% y/y advance estimated previously. Private consumption was corrected from a 1% y/y advance to only 0.5% y/y, while public consumption was corrected to minus 5.9% y/y from minus 3.2% y/y. The gross fixed capital formation decreased by 4.1% y/y compared to 4% under the first estimate.

Related Articles

EBRD, EIB lend €82mn to Moldova for key gas pipeline toward Romania

The European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) will lend €41mn each and the European Union will add a €10mn grant to fund a pipeline to link ... more

NEPI, Rockcastle merger to create largest listed real estate player in CEE

South African New Europe Property Investments (NEPI) real estate investment fund, which is active and listed in Romania, announced on December 14 that it has concluded a framework agreement with ... more

Japan’s Asahi buys a huge round in Central Europe

Asahi has beaten a host of regional heavyweights in the race to buy SABMiller’s Central and Eastern European beer brands, the Japanese brewer announced on December 13. The Asian giant said it ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss