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Romania Economy Grew in Second Quarter on Rising Consumption

Oct. 5 (Bloomberg) -- Romania’s economy grew in the second quarter, driven by an increase in domestic demand, according to the final figures from the National Statistics Institute.

Gross domestic product expanded a seasonally adjusted 0.5 percent from the previous quarter, matching reports on Aug. 14 and Sept. 6, and compared with revised growth of 0.1 percent in the three months through March, the Bucharest-based institute said in an e-mail today.

GDP grew a seasonally unadjusted 1.1 percent from a year earlier, lower than the 1.2 percent figure in previous reports, as the institute revised construction and consumption figures. Consumption increased 1.3 percent in the second quarter compared with a 1.1 percent estimate on Sept. 6, according to the statement. Construction output rose 3.6 percent, less than the 5.2 percent growth previously released.

The eastern European country’s economic growth quickened in the April-June period as the government increased state wages, boosting domestic consumption to offset a slowdown in exports, hit by the sovereign-debt crisis in Europe, its main trading partner.

Romania’s economy went through a recession from the end of 2008 until the first quarter of 2010, according to revised data from the Statistics Office.

To contact the reporter on this story: Irina Savu in Bucharest at isavu@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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