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Eurostat: Romania posts highest Q1 2017 economic growth rate in EU
Romania has posted the highest Q1 2017 economic growth rate in EU28, of 5.6 percent, y-o-y, according to a flash estimate published on Tuesday by Eurostat, the statistical office of the European Union.
Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.7pct in the euro area and by 2.0pct in the EU28 in the first quarter of 2017, after +1.8pct and +1.9pct respectively in the previous quarter.
The highest growth rates January — March 2017 were reported by Romania (5.6 percent), Poland and Lithuania (4.1 percent each), Latvia (3.9 percent), Hungary (3.7 percent) and Bulgaria (3.4 percent). The only drop in the Gross Domestic Product (GDP) over the same period was reported by Greece (minus 0.5 percent).
In Q1 2017, compared with Q4 2016, Romania's economic growth was also the highest in the EU: 1.7 percent versus 1.5 percent in Q4 2016.
Seasonally adjusted GDP rose by 0.5pct in both the euro area (EA19) and the EU28 during the first quarter of 2017. In the fourth quarter of 2016, GDP grew by 0.5 percent and 0.6 percent respectively.
Non available in the Q1 2017 GDP flash estimates are data from seven EU member states — Estonia, Ireland, Croatia, Luxembourg, Malta, Slovenia and Sweden.
Data released on Tuesday by the National Institute of Statistics (INS) indicate a 5.7-percent Q1 2017 quarterly economic growth in Romania in unadjusted terms and a 5.6-percent increase in terms adjusted for seasonality.
In real terms, the Q1 2017 GDP was 1.7 percent higher than the Q4 2016 one.