Romania’s GDP Contracts 6.2% Y-Y In 1Q

The sharp GDP contraction was mainly driven by a 11.1% fall in the industry and a 10.9% decrease in the agriculture sector. The retail sector was down 7.6%, while the real-estate and financial sectors posted a 3.8% decrease.

The construction sector rose 4.7% on the year in the first quarter, while other services posted a 3.1% increase.