Romania: Economy slows down in Q2
September 4, 2013
According to a preliminary estimate released by the statistical office on 4 September, GDP expanded 1.5% in the second quarter over the same period last year. The print marked a deterioration compared to the 2.2% rise recorded in the first quarter and matched FocusEconomics panelists' expectations. More detailed data will be released on 7 October.
On a quarter-on-quarter basis, GDP rose 0.5% in seasonally adjusted terms in Q2, which was slightly above the revised 0.4% expansion recorded in Q1 (previously reported: +0.7% quarter-on-quarter).
The government expects GDP to expand 1.9% this year, before accelerating to 2.2% in 2014. FocusEconomics Consensus Forecast panelists expect the economy to grow 1.4% this year, which is down 0.1 percentage points over the previous month's projection. For next year, the panel expects the economy to expand 2.5%.
Author: Dirina Mançellari, Senior Economist