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Romania: Economic Upswing Expected
According with the flash estimates, real GDP declined by 0.5% qoq and by 0.6% yoy in Q3. “In our view, contraction was mainly the result of a plunge in agricultural output.” Austrian Raiffeisen Research says.
Romania: Economic Upswing Expected / Picture: © Wikimedia Commons [CC0 1.0] / Pixabay [CC0 Creative Commons]
Initial estimates showed real GDP declined in Q3 both in quarterly terms (-0.5% qoq) and in annual terms (-0.6% yoy). Figures were weaker than market consensus (-0.3% qoq and +0.1% yoy in the Thomson Reuters poll), but better than our expectations (-0.8% qoq and -1.8% yoy).
Details with regards to dynamics of GDP components will be…
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