Statistics Institute: Romania’s GDP down 1% quarter-on-quarter in Q2

Romania’s economy decreased by 1 percent in the second quarter of 2014, compared to the first quarter of the year, according to first estimations of the country’s National Statistics Institute INS. When compared to the same quarter the previous year, the GDP increased by 1.2 percent in gross series and by 1.4 percent in seasonally adjusted series. In the first half of 2014, Romania’s GDP increased by 2.4 percent year-on-year in gross series. The increase was of 2.6 percent in seasonally adjusted series. Romania’s economy grew by 3.9 percent in the first quarter of 2014 compared to the same quarter last year, according to data released by INS. World Bank raises GDP growth estimates for Romania. EC improves Romania’s GDP growth forecast on stronger domestic demand. Irina Popescu, irina.popescu@romania-insider.com