Romania's statistics office revises down GDP growth estimates for Q1

Romania’s National Statistics Institute (INS) has revised down its estimates on the evolution of the GDP in the first quarter of this year. The new estimates show that Romania’s GDP went up 1.5% in Q1 2016 compared to the previous quarter and by 4.1% when compared to the same quarter of 2015. The first preliminary data released by the INS in mid-May and reconfirmed in June, showed that Romania’s economy grew by 1.6% in the first quarter compared to the previous three months and by 4.2% over the first quarter of 2015. The GDP was estimated at EUR 41.4 billion in the first three months of this year, slightly down compared to the previous estimation, according to INS. editor@romania-insider.com