Romania: GDP Slowed Down in Second Quarter 2013

Romania: GDP Slowed Down in Second Quarter 2013 / Picture: © Flickr / Dan Nevill (CC BY-ND 2.0)

Flash data shows real GDP expanded by 0.3% qoq sa in 2Q13, matching RBI’s expectations and market consensus. This is the smallest quarterly growth rate in the last three quarters and our calculations hint that the second quarter was the worst since the end of 2011 for GDP excluding agriculture, which reflects the underlying trend of economic activity.

In annual terms, real GDP…