Financial News: Romanian GDP Expands 0.8% In Q2

Romanian GDP Expands 0.8% In Q2

08/14/2024 - 05:13:00 (RTTNews)

(RTTNews) - Romania's economic growth accelerated somewhat in the second quarter, preliminary data from the statistical office showed on Wednesday.

On an unadjusted basis, GDP expanded 0.8 percent annually in the June quarter, faster than the downwardly revised 0.1 percent rise in the preceding three-month period.

Meanwhile, seasonally adjusted GDP growth slowed to 0.8 percent from 2.2 percent in the previous quarter.

Compared to the previous quarter, GDP rose a seasonally adjusted 0.1 percent in the second quarter, slower than the 0.5 percent expansion in the first quarter.

During the first half of 2024, the Romanian economy advanced 0.7 percent as compared to the same period in 2023.

"Today's data paints a rather bleak picture of slower-than-expected growth," Stefan Posea, an economist at ING, said.

The ING also revised down the Romanian GDP forecast for 2024 from 2.8 percent to a still optimistic 2.0 percent.

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