INS revises upwards economic growth for 2016, to 4.8 pct

The National Institute of Statistics (INS) has revised upwards the economic growth for 2016, to 4.8 pct, by 0.1 pct above the provisional version, reads a press release of the institution sent to AGERPRES on Wednesday. 

The estimated gross domestic product for 2016, based on semi-final data, was of over 762.341 billion current prices. 

"In 2016, more significant changes in the contribution to GDP growth, between the two estimates, were recorded as follows: the industry, from +0.4 pct to 1.3 pct, as a result of the increase of the activity volume by +3.5 percentage points (from 101.8 pct to 105.3 pct), constructions, from +0.1 pct to +0.7 pct, as a result of the increase of their activity volume by +1.9 percentage points (from 101.8 pct to 112.7 pct) and professional, scientific and technical activities; administrative service activities and support service activities, from +0.5 pct to +0.1 pct, with a modification in activity volume of - 7.0 percentage points (from 107.9 pct to 100.9 pct)," INS informs. 

As for categories of expenditure, more important changes in terms of the contribution to the GDP growth, between the two estimates, were recorded as follows: final consumption expenditure of households, from +4.6 pct to 4.8 pct, as a result of the its volume increase by 0.4 percentage points (from 107.5 pct to 107.9 pct) and net formation of fixed capital, from -0.8 pct to -0.5 pct, as a result of its volume modification by +1.3 percentage points (from 96.7 pct to 98 pct).