Romania’s statistics office INS confirmed the 4.6% GDP annual growth (year-on-year) in the first half of the year (H1) and operated only minor corrections on the formation side, but revised significantly upward the annual growth rate of the domestic consumption to 5.9% under the second GDP estimate for the period issued October 10, from 4.9% estimated on September 6.

The private consumption was revised from an annual growth rate of 5.5% to 6.1%. The Government’s consumption rose by 5.0% year-on-year in H1, according to the new estimate compared to a more moderate 1.3% year-on-year advance estimated on September 6.

For the second quarter of the year alone, the Government consumption increased by a massive 9% year-on-year, compared to only 1.6% under the first estimate on September 6. In the same quarter, the  private consumption growth was revised upward from 5% year-on-year to 6% year-on-year.

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