Romania’s economy grows by 5.9 pct in Q2, says flash estimate

Ovidiu Posirca 16/08/2017 | 10:05

The Romanian economy expanded by 5.9 percent in the second quarter of this year on gross series compared to the same period of last year, according to a flash estimate published by the Institute of Statistics (INS).

In the first semester, the economic growth stood at 5.8 percent on gross series.

If we look at seasonally adjusted data, the GDP expanded by 5.7 percent in the second quarter versus Q2 2016, after the economy grew by 5.7 percent in Q1.

The statistics show that the second quarter of 2017 was the eight consecutive quarter in which Romania’s economy expanded.

In the first quarter, the growth was led by the IT&C sector that expanded by 15.3 percent, while the category that includes a large part of services went up by 9.4 percent.

Trade and industry posted growth rates of 7.4 percent and 6.8 percent, respectively.

Analysists say that the economic growth is mainly driven by households’ consumption and this trend is set to continue through to 2018.

 

 

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