With 5.7 percent in the second quarter of 2017, Romania posts EU's top Q2 economic growth

With an advance of 5.7 percent in the second quarter of 2017 compared to the same period of the year before, Romania tops the EU rankings by the annual GDP growth rate for the interval April - June 2017, shows an Eurostat preliminary estimate released on Wednesday.

According to Eurostat, Romania's GDP was up by 5.7 percent YoY both in Q1 and Q2, 2017. Over the same period, GDP growth was 2.2 percent in the euro area and 2.3 percent in the EU, following an increase by 1.9 percent and 2.1 percent, respectively, in the first quarter.

In Q1 2017 Romania's GDP was up 1.6 percent from Q1, placing it second in the EU after Sweden, which had a second-quarter economic growth of 1.7 percent. Again, the advance of Romania's economy is well above the EU and euro area average GDP growth of 0.6 percent in Q2 compared to Q1.

The data released by Eurostat is similar to that announced previously by the National Institute of Statistics (INS), according to which in Q2 2017 Romania's GDP was up 5.9 percent YoY in unadjusted terms.

In seasonally adjusted terms, Romania's GDP was up 1.6 percent in Q2 2017 from the previous quarter and 5.7 percent higher YoY.

Eurostat points out, however, that all figures released on Wednesday may be revised with the GDP and main aggregates estimate scheduled for September 7, 2017.

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