2023.06.0808:30:00UTC+00Romania Q1 GDP Growth Eases To 2.3% As Estimated

Romania's economic growth was unrevised in the first quarter, the latest data from the statistical office showed on Thursday.

On an unadjusted basis, GDP expanded 2.3 percent annually in the March quarter, slower than the 4.5 percent rise in the preceding three-month period. That was in line with the flash data published on May 16.

Similarly, seasonally adjusted GDP growth slowed to 2.8 percent from 4.3 percent in the previous quarter, as estimated.

On the expenditure side, total final consumption rose 4.5 percent annually in the March quarter, and gross fixed capital formation advanced by 2.4 percent.

Meanwhile, changes in inventories showed a decline of 4.2 percent. Net exports also contributed negatively by 0.8 percent, as exports fell 0.2 percent amid a 0.6 percent gain in imports.

Compared to the previous quarter, GDP rose a seasonally adjusted 0.1 percent in the first quarter after rising 1.0 percent in the final quarter of 2022. Thus, the preliminary estimate was confirmed.