Romania's economic growth slows to 2.6% in Q2 - provisional data

The growth was driven by a 1.8% rise in household spending and 9.1% growth in gross fixed capital formation, which represents investments in physical assets such as machinery, buildings, and infrastructure.

The agricultural sector’s output saw a 1.6% contraction. The output of the industrial sector shrank by 4%, while the construction sector grew by 5.4% on the year.

The imports of goods and services decreased by an annual 2.5%, while exports inched down by 0.6% year-on-year during the second quarter of 2023.

On a seasonally adjusted annual basis, Romania’s gross domestic product (GDP) grew by a real 1.9% on the year in the first half of 2023.

When compared to the previous quarter, the economy expanded by 1.7% in the second quarter of 2023, following a 1% contraction in the first quarter of 2023.

Romania’s economic output is expected to increase by an estimated 2.8% in 2023, finance ministry analysts said in August, in line with their forecast issued in May.

The country's economic output rose by 4.7% in 2022 and by 5.8% in 2021.

(1 euro = 4.96540 lei)