ECONOMY FINANCE&BANKING

INS revises downwards GDP advance in first nine months of 2016 to 4.8 pct

The National Institute for Statistics (INS) has revised downwards the data on the advance of the Romanian economy regarding the first nine months of last year, from 4.9 percent in the last provisional data set, to 4.8 in the current, according to a press release on Friday.

In the last report for the third quarter of last year, an economic growth of 4.4 pct was envisaged, while the Friday release reduces that to 4.3 percent.

“The Gross Domestic Product estimated for the January 1 – September 30, 2016 period was of 563.38 billion lei in current prices, an increase – in real terms – by 4.8 percent compared to the January 1 – September 30, 2015 period. The GDP estimated for Q3 2016 was of 207.488 billion lei current prices, an increase – in real terms – by 4.3 percent as compared to Q3 2015. In Q3 2016, the dynamic of the GDP was modified in the current report, compared to the last report by -0.1 percentage points,” the document shows.

Compared to Q2 2016, the GDP grew, in real terms, in the third quarter by 0.6 percent.

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