Macroeconomic indicators - Romanian Q1 GDP drops by 6.2% YoY
Friday, 12 Jun 2009
According to National Institute of Statistics, Romania's GDP contracts 6.2% YoY in Q1. On a seasonally unadjusted basis, the gross domestic product was ROL 95.521 billion in first quarter. On a seasonally adjusted basis, the GDP stood at ROL 128.73 billion in first quarter, down by 4.6% YoY.
In the signal reporting on May 15th 2009, INS estimated YoY GDP contraction at a mere 2.6% on a seasonally adjusted basis. As compared to fourth quarter last year, the data are seasonally adjusted, while for the YoY statistics, the institute used unadjusted data. The detailed report on GDP evolution in first quarter indicates an industry wide decline of activity, except for construction sector.
