Romania GDP Q2 2020

Romania

Romania: GDP contracts at record pace in Q2 on Covid-19 fallout

August 14, 2020

The economy received a massive blow in the second quarter due to the constraining effects of the Covid-19 pandemic. According to a flash estimate released on 14 August, GDP dropped 10.5% year-on-year (Q1: +2.4% yoy), marking the worst contraction on record. Meanwhile, on a seasonally-adjusted quarter-on-quarter basis, economic activity nosedived 12.3% in Q2, contrasting Q1’s 0.3% increase.

Comprehensive second-quarter national accounts will be released on 8 September.

FocusEconomics Consensus Forecast analysts see GDP falling 5.5% in 2020, which is up 0.1 percentage points up 0.1 percentage points from last month’s forecast. For 2021, analysts see growth at 4.7%.


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Romania GDP Q2  20 20

Note: Year-on-year changes of GDP in %.
Source: National Institute of Statistics and FocusEconomics Consensus Forecast.


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