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IN THE YEAR 2017, GROSS DOMESTIC PRODUCT INCREASED BY 7.0%.
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Gross domestic product in Q4 2017 was, in real terms, by 0.6%1 higher, as compared to Q3 2017;
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As against the same quarter of 2016, the Gross Domestic Product recorded an increase by 6.9% for unadjusted series and by 7.0% for seasonally adjusted series;
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The seasonally adjusted series of quarterly Gross Domestic Product was re? adjusted as a result of:
- the revision of the GDP unadjusted series for 2007?2012 for reconciling with the annual data revised for including the methodological changes due to the treatment of Eurostat reservations on Gross national income;
- the revision of the GDP unadjusted series for 2015?2016 for reconciling with the annual data ( 2015 – final version, 2016 – semi?final version);
- including the estimates for Q4 2017.
Romania's economy recorded a 7 percent advance in 2017 as compared to the previous year, and in its last quarter, y-o-y, the advance of the Gross Domestic Product slowed down to 6.9 percent (as raw series), from 8.8 percent in Q3, according to data of the National Institute of Statistics (INS) released on Wednesday.
As compared to Q3, 2017, in the last three months of the year Romania's economy increased by 0.6 percent. "In 2017, the Gross Domestic Product went up, y-o-y, by 7.0 percent. The GDP in Q4, 2017 was, in real terms, by 0.6 percent higher than in Q3, 2017. As compared to the same quarter of 2016, the GDP recorded a 6.9 percent rise as raw series and by 7.0 percent as series seasonally adjusted," the INS press release specifies.
The World Bank has recently announced that it expects Romania to report a 6.4 percent rise of the GDP in 2017 as compared to the 4.4 percent forecasted in June.
The International Monetary Fund has also revised from 4.2 percent to 5.5 percent the estimates regarding the evolution of the Romanian economy in 2017, in the "World Economic Outlook" report, released on 10 October.