Romania Q3 GDP Growth Revised Higher

Romania's GDP expanded by 1.2% year-on-year in the third quarter of 2024, faster than the second estimate of 1.1% and accelerating from a 0.9% rise in the previous three-month period.

This marked the fourteenth consecutive quarter of economic expansion and the fastest pace since Q4 of 2023, driven by rises in household consumption (5.1%) and gross fixed capital formation (0.4%).

However, government spending shrank by 0.8%.

Net external demand also contributed negatively to the GDP, as exports dropped by 3.5% while imports rose by 1.3%.

On the production side, output grew for professional, scientific & technical activities; (4.7%); hotels and restaurants (4.2%), and construction (1.4%).

On a seasonally adjusted quarterly basis, the economy showed no growth in the September quarter, after a 0.1% expansion in the previous quarter.