Page 46 - bne_Magazine_May_2017_print

46 I Special focus bne May 2017
GDP growth accelerates in 2016
Romania’s GDP growth accelerated
to 4.8% y/y in 2016, after the 3.9% expansion one year earlier, according to a flash estimate from the statistics office INS. While there is broad consen- sus over the main drivers of the robust growth achieved last year, namely private consumption on the utilisation side and services on the formation side, there is less consensus on how strong GDP growth will remain in 2017.
Read the chart: Real GDP (2000=100) and y/y change of real GDP
Read the chart: The contribution of each sector, or element of utilisation, to the GDP growth is expressed in percentage points (pp). Thus, the contribution of services to the annual growth (y/y) of the real GDP was dominant during 2015-2016. Similarly, the rise of households’ consumption has contributed essentially to the utilisation of the GDP produced in the period, as opposed to the contribution of net exports, which was nega- tive (meaning either net exports decreased, or net imports increased).
Romania GDP (2000=100;y/y)
Industrial output 2.8% up y/y in Q4
Romania’s industrial output increased by 2.8% y/y in Q4 2016, marking the best performance during the year, according to calculations based on data from the statistics office INS. On average, industrial output increased by 1.75% y/y in 2016, losing momentum from 2.75% in 2015.
Read the chart: The light grey area stands for the Industrial Production Index (seasonally adjusted in the chart with monthly frequency). The thick grey line stands for its y/y variation (%) and the dark blue for Manufacturing Production (y/y).
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Romania Ind. Production Index (2010=100; y/y)