May 15, 2020 / 7:26 AM / 11 days ago

Romania flash Q1 GDP above expectations at 2.4% y/y

BUCHAREST, May 15 (Reuters) - Romania’s economy grew a more than expected 2.4% on the year in the first quarter, a flash estimate from the National Statistics Board showed on Friday.

Analysts polled by Reuters had expected the economy to grow 1.8% in January-March. They expect the economy to contract 5.9% for the full year as the new coronavirus outbreak takes its toll. The government estimates a lower contraction at 1.9%.

On a quarterly basis, the economy advanced 0.3% in seasonally adjusted terms in January-March. The statistics board also said it has revised quarterly growth data of the fourth quarter of 2019 down to 1.2% from 1.5%. (Reporting by Luiza Ilie)

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