GDP up by 5.7pc in Q1. Average net wage in May – RON 2,362

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The Gross Domestic Product (GDP) increased by 5.7% as gross series and by 5.6% as seasonally adjusted series against the similar period last year, according to provisional data released by the National Statistics Institute (INS) on Friday.

As compared to Q4 2016, the GDP in Q1 2017 was by 1.7% larger in real terms.

As seasonally adjusted data, the estimated GDP in Q1 2017 was of RON 203.643 billion in current prices, up by 1.7% in real terms against Q4 2016 and by 5.6% against Q1 2016. As gross series, the estimated GDP in Q1 2017 was of RON 164.215 billion in current prices, up by 5.7% in real terms against Q1 2016.

As compared to the first provisional version, the GDP development has remained unchanged, INS informs.

The National Prognosis Commission (CNP) estimated in the spring medium term prognosis that Romania will register a 5.2% economic growth this year.

On the other hand, the average gross wage in May 2017 was of RON 3,288, by 0.1% lower than in April 2017, whereas the net wage was of RON 2,363, down by RON 3 against the previous month.

Against May 2016, the average not nominal wage has increased by 14.5%. The real wage index against the similar period last year was of 113.8%.

 

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