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Romania's GDP increases by 3.7pct in 2015 (official flash estimate)

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Romania's gross domestic product has grown by 3.7 percent in 2015 (unadjusted series), above the European Commission's autumn estimate of 3.5pct, according to a flash estimate released on Friday by the National Institute of Statistics (INS). 

The GDP advanced by 1.1pct in real terms in the fourth quarter of 2015, on a Q3 basis. The Q4 2015 GDP was higher by 3.7pct year-on-year in the unadjusted series and by 3.8pct in the seasonally adjusted series. 

The seasonally adjusted series of quarterly Gross Domestic Product was re-adjusted as a result of the revision of the GDP unadjusted series for 2012-2014 for reconciling with the annual data (2012 and 2013 - final version, 2014 - semi-final version) and of including the estimates for Q4 2015, being revised as compared to the version published on 15 January 2016, the INS detailed. 

The seasonally adjusted series are quarterly re-estimated due to the change in adopted models, in the number of regression factors used, in the unadjusted series and in the number of available observations.AGERPRES

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