Romania's economy declined 1.2pcs in Q1 2026

 Romania's economy shrank by 1.2% unadjusted in the first three months of 2026, year-on-year, and by 1.1% seasonally adjusted, according to provisional data released on Thursday by the National Institute of Statistics (INS).Compared with the previous provisional version, both the Gross Domestic Product (GDP) and added gross value dynamics did not change.The GDP seasonally adjusted estimated for the first quarter of 2026 was RON 499.738 billion current prices in nominal terms, and in real terms, down by 1.1% from Q1 2025.The unadjusted estimated gross domestic product for the first quarter of 2026 was RON 405.907 billion in current prices, decreasing in real terms by 1.2% from Q1 2025.According to INS data, the volume of gross value added by branches of activity registered more important changes between the two estimates, as follows: agriculture, forestry and fisheries did not contribute to GDP growth (0.0%) in the two estimates, and the volume of activity did not change from the previous estimate (100.8%); industry made the same contribution to the change in GDP (-0.2%) in both estimates, and the volume of activity changed by -0.1 percentage points from the previous estimate (from 98.8% to 98.7%).Also, construction recorded the same contribution to GDP growth (+0.4%) in the two estimates, and the volume of activity did not change from the previous estimate (107.9%); wholesale and retail trade; repair of motor vehicles and motorcycles; transport and storage; hotels and restaurants changed slightly their contribution to GDP growth, respectively from -0.8% to -0.7% between the two estimates, and the volume of activity changed by -0.1 percentage points (from 96.9% to 96.8%).Information and communications made the same contribution to the change in GDP (-0.3%) in the two estimates, while the volume of activity did not change compared to the previous estimate (95.9%)."Financial intermediation and insurance did not contribute to GDP growth (0.0%) in the two estimates, and the volume of activity did not change compared to the previous estimate (100.9%); real estate transactions changed slightly in their contribution to GDP growth, respectively from -0.1% to -0.2% between the two estimates, and the volume of activity did not change compared to the previous estimate (98.1%); professional, scientific and technical activities; administrative and support service activities changed from -0.3% to -0.2% in the contribution to GDP growth between the two estimates, and the volume of activity increased by +0.1 percentage points from the previous estimate (from 96.1% to 96.2%); public administration and defence; social security from the public system; education; healthcare and social assistance recorded the same contribution to the change in GDP (-0.2%), and the volume of activity did not change compared to the previous estimate (98.7%); entertainment, cultural and recreational activities; repairs of other personal and household goods and other services made the same contribution to GDP growth (+0.3%) between the two estimates, and the volume of activity decreased by -0.1 percentage points from the previous estimate (from 111.6% to 111.5%)," according to INS.According to the document, the volume of net taxes on products did not change from the previous estimate (99.4%).From the point of view of GDP use, significant differences in the contribution to the GDP change between the two estimates recorded: final consumption of expenditure of general government, from -0.1% to +0.4%, as a result of an increase in its volume by +6.2 percentage points (from 98.8% to 105.0%); the actual final consumption of general government, from 0.0% to +1.4%, as a result of an increase in its volume by +13.3 percentage points (from 99.6% to 112.9%); gross fixed capital formation, from +0.9% to +0.4%, as a result of a decrease in its volume by -2.5 percentage points (from 104.7% to 102.2%).Final consumption expenditure of households recorded the same contribution to GDP growth (-1.2%) in the two estimates, and the volume did not change from the previous estimate (98.2%).