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INS revises upwards the GDP growth in Q1 2018. Household earnings up by 19.2pc in Q1, expenditures by 20.1pc

The National Statistics Institute (INS) has revised upwards the evolution of GDP in the first quarter of 2018, estimating a 0.1% advance as compared to the fourth quarter of 2017, after the forecast in June revealed stagnation.

Seasonally adjusted figures point to a GDP worth RON 226.28 billion in current prices, up in real terms by 0.1% against Q4 2017 and by 4.2% against Q1 2017.

As gross series, the estimated GDP in Q1 2018 was of RON 180.51 billion, up by 4% against Q1 2017.

Significant changes in contributions to the GDP were for the household final consumption, up from +3.4% to +3.7%.

The gross formation of the fixed capital (public investments) increased its share to the GDP growth from +0.8% to +1%.

Household earnings up by 19.2pc in Q1, expenditures by 20.1pc

The earnings of households in Romania increased by 19.2% in Q1 against the same period last year, to RON 3,873 (EUR 831), whereas the expenditures grew by 20.1%, up to RON 3,317 (EUR 712), INS also informs.

In Q1 2017 the earnings per household were of RON 3,250 (EUR 719) and expenditures of RON 2,761 (EUR 611) per month.

In Q1 2018, overall monthly earnings were of RON 3,872 per household and RON 1,483 per individual. The expenditures amounted, on average, to RON 3,317 per household per month (RON 1,270 per individual), representing 85.6% of overall expenses.

The wages and other associated revenues represented the main share of incomes – 64.6% of overall earnings. Of total expenses, 63.0% (70.1% in Q1 2017) represented in Q1 2018 consumption expenses and 29.1% (20.9% in Q1 2017) expenses for taxes and contributions.

The expenses for investments represented only 0.3% of overall expenses, against 0.5% in Q1 2017.

 

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