In seasonally adjusted data, GDP growth is 2.2%, higher than the 1.8% previously estimated.
INS also revised the economic growth in the first quarter of 2024 against the fourth quarter of 2023 to 0.7% from 0.4%.
The estimated GDP for the first quarter of 2024 is RN348 billion.
As compared with the provisional version (1), the GDP volume increased by 0.4% and the gross value added volume increased by 0.5%.
Gross value added volume by industries recorded significant changes between the two estimations as follows:
– Agriculture, forestry and fishing did not contribute to the GDP increase (0.0%) in both estimations, and the volume of activity decreased compared with the previous estimation, by 0.1% (from 102.1% to 102.0%);
– Industry recorded the same contribution to GDP increase (-0.2%) in both estimations, and the volume of activity increased by 0.3% (from 98.9% to 99.2%);
– Constructions recorded the same contribution to GDP increase (-0.1%) in both estimations, and the volume of activity modified by +0.1% (from 97.6% to 97.7%);
– Wholesale and retail; repair of motor vehicles and motorcycles; transport and storage; hotels and restaurants, from -0.4% to +0.1% between the two estimations as a result of increasing activity volume by 2.1% (from 98.3% to 100.4%);
– Information and communication recorded the same contribution to GDP increase (+0.2%) in both estimations, and the volume of activity changed compared with the previous estimation by -0.1% (from 102.0% to 101.9%);
– Financial intermediation and insurance, from -0.1% to +0.0% in both estimations and the volume of activity did not change compared with the previous estimation (98.4%);
– Real estate activities did not contribute to the GDP increase (0.0%) and the volume of activity remains the same as in the previous estimation (99.6%);
– Professional, scientific and technical activities; activities of administrative services and support services recorded the same contribution to the GDP increase (-0.2%) in both estimations, and the volume of activity modified by +0.1% (from 96.7% to 96.8%);
– Public administration and defense; social insurance of public sector; education; health and social assistance from +0.1% to 0.0% and the volume of activity decreased by 0.7% compared with the previous estimation (from 100.9% to 100.2%);
– Shows, culture and recreation activities; repair of household’s goods and other services did not suffered modifications regarding the GDP contribution (+0.2%) between the two estimations, and the volume of activity did not modify compared with the previous estimation (107.0%).
(English version by Loredana Fratila-Cristescu)