Romania’s economy grew 0.3% in real terms in the first quarter of 2020 compared with the fourth quarter of 2019.
“The Gross domestic product flash estimates, as well as the provisional ones, are affected by the difficulties posed by the pandemic crisis and by the establishment of the State of emergency. These difficulties are connected to the collection of basic data representing entries for national accounts and have materialized by an increase of the non-response rate. To complete the information alternative data sources had been used in order to affect as less as possible the quality of the produced indicators,” according to INS representatives.
As a result of the revision of the unadjusted data by including the estimates for Q1 2020 in the quarterly series, the seasonally adjusted data were re-estimated, the volume indices being revised as compared to the second provisional version of the gross domestic product for the fourth quarter of 2019.
The seasonally adjusted data are quarterly re-estimated due to the change in adopted models, in the number of regression factors used, in the unadjusted data and in the number of available observations.