Romanian GDP Shrinks As Estimated In Q2

(RTTNews) - Romania's economy contracted further as estimated initially in the second quarter, the latest data from the statistical office showed on Monday.

On an unadjusted basis, GDP declined 0.4 percent annually in the June quarter, following a 1.2 percent fall in the March quarter. That was in line with the flash data published on August 14.

The expenditure breakdown showed that final consumption expenditure of households decreased 1.9 percent, and government consumption remained flat. Change in inventories contributed negatively by 2.0 percent, and net exports were 0.5 percent weaker as imports grew faster than exports.

There was a positive contribution from gross fixed capital formation, which advanced 4.1 percent.

Meanwhile, seasonally adjusted GDP contraction deepened to 2.0 percent from 1.1 percent in the previous quarter, as estimated.

Compared to the first quarter, GDP remained flat in the June quarter versus a 0.1 percent slight fall in the first quarter, confirming the flash figures.