The Gross Domestic Product (GDP) increased by 0.1% in the second quarter of 2024, compared to the previous quarter, and in the first half it increased by 0.7% compared to the same period in 2023, on the raw series, and by 1.5% on the seasonally adjusted series, according to the provisional data (1) published on Friday by the National Institute of Statistics (INS).

According to INS, GDP in the second quarter of 2024 compared to the first quarter of 2024 was in real terms higher by 0.1%. Compared to the same quarter of 2023, GDP recorded, in the second quarter of 2024, an increase of 0.8% both on the gross series and on the seasonally adjusted series.

In the first half of 2024, GDP increased, compared to the first semester of 2023, by 0.7% on the gross series and by 1.5% on the seasonally adjusted series, INS data also say.

Regarding the contributions to GDP growth by resource category, in the first half of 2024 compared to the first half of 2023, the following economic activities had positive contributions: agriculture, forestry and fishing; shows, cultural and recreational activities; repairs of household products and other services; construction; wholesale and retail trade; motor vehicle and motorcycle repair; transport and storage, net taxes on the product.

According to INS data, information and communications, financial intermediation and insurance, public administration and defense, social insurance from the public system, education, health and social assistance, industry, real estate transactions, professional, scientific and technical activities, administrative services activities and support services activities, net export did not contribute to GDP growth.

By categories of use, from the point of view of GDP use, the increase was mainly due to: expenditure for the final consumption of households, the volume of which increased by +5.8%, contributing +3.7% to GDP growth; expenditures for individual final consumption of public administrations, whose volume increased by +1.3%, contributing +0.1% to GDP growth; the effective collective final consumption of public administrations, whose volume decreased by -3.4%, contributing -0.4% to GDP growth; gross fixed capital formation, whose volume increased by 6.0%, contributing +1.4% to GDP growth.

The budget for the current year is built on an economic growth of 3.4%.

AGERPRES