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Romanian Economy to Shrink Further
With a large negative contribution expected to come from agriculture, real GDP should decline again in Q3 in quarterly terms (as well in annual terms). The contraction is likely to be larger than initially expected, Raiffeisen Zentralbank forecasts.
Romanian Economy to Shrink Further / Picture: © Flickr / Dan Nevill (CC BY-ND 2.0)
A contraction in real GDP both in annual and quarterly terms in Q3 was in our baseline scenario starting several quarters ago. The main reason was the large negative contribution stemming from agriculture (as a result of a plunge in agricultural output due to adverse weather conditions) in the context of a roughly flat trend in activity for the other economic sectors…
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