Romania Still Shows Weak Growth Rates

Businessn.a. ♦ Published: August 31, 2012; 23:18 ♦ (Vindobona)

“We expect economic recovery to remain sluggish. Weak external demand suggests exports and industry would not offer support to GDP growth. “ RCB (Raiffeisen Centrobank) says.

Romania Still Shows Weak Growth Rates / Picture: ©

Initial estimates revealed that real GDP grew by 0.5% qoq in Q2 after falling marginally in the previous two quarters. It grew by 1.2% compared with Q2 2011. Both figures were slightly above RCB´s expectations (0.4% qoq and 1% yoy) and also above market consensus.

The available data point to a roughly flat evolution of exports and industry in Q2,…