GDP, up 1.6% in Q1 2015 from Q4 2014

The GDP was higher by 1.6% in real terms in Q1 of this year compared to the Q4 2014, and compared to the similar period of last year it rose by 4.3% in unadjusted terms and by 4.2% in seasonally-adjusted ones, according to the data released on Wednesday by the National Statistics Institute (INS).

Photo credit: (c) GDP (quarterly estimates) ? National Institute of Statistics / Insse.ro

Following the revision of the unadjusted terms by including the GDP estimate for Q1 2015 into the quarterly terms, the seasonally adjusted terms have been recalculated, with the volume indices having been revised from the second provisional version of GDP for Q4 2014, published on April 7, 2015.

Thus, the results of Q1 2014, compared with Q4 2013 ones, were revised downwards from 0.3% to 0.1%, whilst those for Q2 2014, compared to Q1 2014 ones, remained unchanged.

For Q3 2014, compared to Q2 2014, the results were revised upwards from 2.1% to 2.2%, and those of Q4 2014, compared to Q3 2014 ones, have been revised from 0.7% to 1%.

The INS informs that the terms adjusted seasonally are recalculated seasonally due to the changes to the models adopted, the modification of unadjusted terms and the number of observations available.

The provisional data on GDP for Q1 2015 will be published on June 4, 2015, and those compared to the other European Union-member states can be obtained from Eurostat which will publish them on May 13, 2015.

According to the Convergence Programme 2015 ? 2018, published at end-April this year on the website of the Ministry of Public Finance, Romania's economy will grow by 3.2% in 2015, due to the positive contribution of domestic demand, and in 2018 it will reach a growth rate of 4%.

In early May, the...