ECONOMY FINANCE&BANKING

INS affirms H1 2017 economic growth at 5.8pct unadjusted series, 5.7pct seasonally adjusted

Romania’s Gross Domestic Product grew by 5.8 percent in raw series in the first six months of 2017 compared with the similar period of 2016 and by 5.7 percent when seasonally adjusted, according to provisional data published on Tuesday by the National Institute of Statistics (INS).

Compared with the first quarter of 2017, Q2 2017 GDP was 1.6 percent higher in real terms. Compared with the same quarter of 2016, the GDP advanced 5.9 percent in raw series and 5.7 percent when seasonally adjusted.

“The seasonally adjusted Gross Domestic Product series was recalculated as a result of the revision of estimates for the second quarter of 2017, but there were no differences compared to the version published in Press Release 208 of August 16, 2017,” INS says.

As far as the seasonally adjusted series is concerned, the estimated GDP for the second quarter of 2017 was 207.636 billion lei current prices, up 1.6 percent from Q1 2017 and 5.7 percent from Q2 2016.

The estimated H1 2017 Gross Domestic Product was 411,300 billion lei current prices, up 5.7 percent in real terms form H1 2016.

The estimated Q2 2017 Gross Domestic Product in unadjusted terms was 196.642 billion lei current prices, up 5.9 percent from Q2 1016. The H1 2017 GDP was 360,857 billion lei current prices, up 5.8 percent in real terms from H1 2016.

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