Romania recorded a 4% economic growth in the first quarter of 2018 compared to the same quarter of last year, mainly driven up by domestic consumption, according to fresh data released by the National Statistics Institute (INS) on Thursday, June 7.

Domestic consumption contributed 3.6 percentage points to the economic growth, investments contributed by 0.8 percentage points while net exports had a negative contribution of -0.6 percentage points, the INS data shows.

From an inputs point of view, industry had the highest contribution to the first quarter growth, of 1 percentage point, followed by trade, transport, hotels and restaurants (0.8 percentage points), IT&C, professional and support activities and public administration and services (0.3 percentage points each).

The economy slowed down significantly compared to last year, when it recorded a 6.9% growth rate.

Romania’s economic growth slows in the first quarter

editor@romania-insider.com