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September 30, 2022

Official estimates: Romania’s GDP up by 3.8pct in H1

Romania’s gross domestic product went up in the first half of 2015 from H1 2014 by 3.7 percent in unadjusted terms and by 3.8pct in seasonally adjusted terms, according to estimates released on Friday by the National Institute of Statistics (INS).

In seasonally-adjusted terms, the GDP rose by 0.1 pct in the second quarter of 2015, on a Q1 basis, and by 3.7pct year-on-year; in unadjusted terms, the Q2 growth was 3.2 percent over the same period of 2014.

The INS mentions that following the revision of the unadjusted series by including the GDP estimate for Q2 2015 into the quarterly series, the seasonally-adjusted series were recalculated, with volume indices revised compared to the second provisional figures of the Q1 2015 GDP released on August 7, as follows: the results of Q1 2014, compared to Q4 2013, were revised from 100.1pct to 100.2pct; the Q2 2014 results relative to Q1 2014 were revised from 99.4pct to 100.2pct; the Q3 2014 results compared to Q2 2014 ones were revised from 102.2pct to 101.3pct; the Q4 2014 results compared to Q3 2014 ones were revised from 101.0pct to 100.9pct; and Q1 2015 results relative to Q4 2014 ones were revised from 101.5pct to 101.4pct.

The seasonally-adjusted series are re-estimated quarterly due to the modification of the models adopted, of the number of regression factors used, of the unadjusted series, and of the number of available observations, the INS adds.

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