The gross domestic product expanded at a quarterly rate of 1.6% in the last four months of 2013, up from an earlier estimate of 1.5%.

Consumer spending, which accounts for around 70% of the Romanian economy, made a positive contribution of 2% to the fourth-quarter growth, up from 1.2% previously reported.

The statistics institute said constructions contributed 0.5% to the fourth-quarter economic growth, while the retail trade made a positive impact of 0.3%. Initial figures showed a negative contribution of 0.1% from the retail sector and no contribution from constructions.

In seasonally adjusted data, the fourth-quarter GDP increased 5.2% on the year, also up from a 5.1% growth previously reported. The unadjusted annual GDP growth was revised to 5.4% for the last three months of 2013, from 5.2% initially estimated.

The Romanian economy expanded at a 3.5% annual rate in 2013, in line with previous estimations.  The growth was largely fueled by exports and agriculture.

In 2014, the economic growth is expected to slow to 2.2%, with domestic demand and investments taking the lead as main drivers.