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Romania’s economy grew at a slower pace in the first quarter compared to last year, latest data from the statistical office confirmed Tuesday.

Gross domestic product rose a seasonally adjusted 2.8 percent from the previous quarter, when growth was 4.6 percent.

On a year-on-year basis, GDP was unchanged in the first quarter after a 2 percent decline in the previous quarter. Output has been falling since the second quarter of last year.

On an unadjusted basis, GDP decreased 0.2 percent from a year ago following a 0.4 percent fall in the fourth quarter.

The flash estimates were thus confirmed.

Consumption grew an unadjusted 1.1 percent and investments rose 1.7 percent. Net exports decreased 2.6 percent and inventories fell 0.4 percent.


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