In Q4 2023, seasonally adjusted GDP remained stable in both the euro area and the EU, compared with the previous quarter, with Romania ranking among the member countries with the strongest quarterly economic contractions, according to an estimate published on Friday by Eurostat, the statistical office of the European Union.Denmark (+2.0%) recorded the highest increase of GDP compared to the previous quarter, followed by Croatia (+1.3%) and Slovenia (+1.1%). The highest decreases were reported in Ireland (-3.4%), followed by Estonia, Finland (both -0.7%) and Romania (-0.5%).In Romania's case, the contraction of 0.5% in Q4 2023 comes after an advance of 1% in Q3, as well as an advance of 1.4% in Q2.Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 0.1% in the euro area and by 0.2% in the EU in Q4 2023, after +0.1% in both zones in the previous quarter.Romania's economy grew by 1.1% at an annual pace in the last three months of 2023, a significant slowdown after a 3.5% advance recorded in Q3.Also on Friday, Eurostat announced that the number of employed persons increased by 0.3% in the euro area and by 0.2% in the EU in Q4 2023, compared with the previous quarter. In Q3 2023, employment had increased by 0.2% in both zones.In Q4 2023, Romania (+1.5%), Malta (+1.4%) and Spain (+0.8%) recorded the highest growth of employment in persons compared with the previous quarter.Based on seasonally adjusted figures, Eurostat estimates that in Q4 2023, 217.1 million people were employed in the EU, of which 169.3 million were in the euro area.As for Romania, the National Institute of Statistics (INS) revised upwards the economic growth in 2023, to 2.1%, and downwards that of Q4 2023, to minus 0.5%. Thus, the Gross Domestic Product (GDP), seasonally adjusted, estimated for Q4 2023, was RON 415.906 billion in current prices, decreasing - in real terms - by 0.5% compared to Q3 2023, and up by 1.1% from Q4 2022.At the level of 2023 current prices, the estimated Gross Domestic Product was RON 1,598.576 billion, up 2.1% from the previous year.
Balancing career success with personal growth is a challenge many professionals face today. As the pressure to achieve and perform increases, many begin to crave more than just success: they want clarity, alignment, and a deeper sense of purpose. For Lin Holmquist, business coach and one of Europe’s most acclaimed experts in Tantra, Yoga, and […]
CFR Călători, the state-owned railway company for passengers, announced that the first train entirely made up of rolling stock modernized with funds from the EU-backed Recovery and Resilience Fund (PNRR) was introduced on the Bucharest North – Constanța route. The train, which is already running, consists of a locomotive delivered by the Softronic factory in […]
The first edition of Urban Habits (nUH), a festival aiming to be “a space for ideas, debates, co-creation, and experimentation,” takes place between April 26 and April 27 at Lokal and on Erou Ion Călin Street, which will be temporarily transformed into a pedestrian space. The program will address themes ranging from innovation, design, and […]
Mall Moldova, the largest shopping center in the Moldova region, officially opened on April 17 in Iași, covering 110,000 sqm. Developed by Prime Kapital, in partnership with MAS P.L.C., Mall Moldova is part of a large-scale investment plan carried out by the two investors in Iași, worth approximately half a billion euros, which also includes […]
Cătălin Chimir, founder and managing director of construction management company SENARIA, discusses the challenges and opportunities in Romania’s construction and real estate sectors and shares valuable insights on how to maximize project profitability and avoid common mistakes. Despite a stable demand for development, the Romanian construction market remains fragile due to factors like labor shortages, […]
Hoinar.Odyssey, the eighth edition of the classical music festival, explores in 2025 the theme of travel. It proposes a concept that brings together classical music, jazz, electronic sounds, contemporary theater, a musical, and new literature. The event, scheduled to take place between May 15 and May 20 at the ACT Theatre and the Romanian Athenaeum, […]
