INS drops GDP estimation by RON 2.5 bn


INS downgraded the GDP estimated for 2013 by 2.5 billion, from RON 631.1 billion to 628.5 billion, making cuts on each quarter, but retained the economic growth of last year to 3.5 percent, along with an increase from 5.2 to 5.4 percent of the advance in the last quarter.In terms of GDP usage in 2013, alterations of contribution to a higher GDP, between the first and second estimation, there was a increase from +0.3 to +0.6 percent in the final consumption, following the increase in the amount of expenses for final individual consumption for population households by 0.2 percent (from 100.7 to 100.9 percent) and the volume of final collective consumption of public administration by 2.4 percent (from 95.9 to 98.3 percent), as well as the gross formation of fixed capital, from -1.5 percent to -0.9 percent following the modification in its volume by 2.4 percent (from 94.3 percent to 96.7 percent).
Prices of industrial production, 0.2 pc lower in February
The INS also indicates that the prices of the industrial production in Romania went down by 0.2 percent in February compared to the previous month and by 1.2 percent on a year-on-year basis. Compared to January, the prices of industrial production on the local market went down by 0.3 percent and on the foreign market, by 0.1 percent.  Compared to January, the prices of industrial production reported higher values in the fast-moving consumer goods industry by 0.1 percent. The highest decrease was reported by the semi-finished products industry (-0.4 percent) and the energy industry (-0.3 percent).  The durable goods and capital goods industries dropped 0.1 percent each.  Compared to February 2013, the prices for industrial production were 1.2 percent smaller, by 0.2 percent under the decrease reported on the local market and by 0.4 percent higher than the trend on the foreign market.

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