INS revised upwards to 5.8% the data on GDP growth in Q3 – 2020

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National Institute of Statistics (INS) revised slightly, to 5.8%, the data on the advance of Gross Domestic Product (GDP) in the third quarter of last year (Q3) compared to the previous quarter.

According to the provisional data published on Tuesday by INS, compared to the same quarter of 2019, the Gross Domestic Product registered a decrease of 5.7% on both the gross series and the seasonally adjusted series.

The first provisional data published by Statistics at the beginning of December indicated a GDP advance of 5.6% in real terms in the third quarter compared to the second quarter and a decline of 6% compared to the third quarter of 2019.

In the first nine months of last year, on adjusted series, the estimated gross domestic product was of 769.495 billion lei in current prices, decreasing, in real terms, by 4.5% compared to the similar period of 2019. On gross series, The estimated gross domestic product was of 724.312 billion lei in current prices, decreasing, in real terms, by 5%, according to Agerpres.

The authorities’ estimates indicate an economic contraction of 4.2% for last year, according to the third budget correction adopted at the end of November 2020.

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