Romania's Q3 GDP growth slows down to 3% y/y - provisional data

On a seasonally adjusted annual comparison basis, Romania's gross domestic product (GDP) growth slowed down to an annual 3.2%, from 3.8% in the third quarter of last year, INS data showed, confirming flash estimates.

On a quarterly comparison basis, GDP growth slowed down to 0.6% in July-September of 2019, from 1.7% in the second quarter.

In the first nine months of 2019, Romania's GDP rose by an annual non-adjusted 4.0% and by a seasonally-adjusted 4.1% year-on-year, provisional data showed.

At end-November, Romania's finance ministry decided to lower its economic growth forecast for 2019 to 4.0% from previously predicted 5.5%. Also, it increased the consolidated budget deficit target for 2019 to 4.3% of the projected GDP, from an initial estimate of 2.76%.

Last month, the European Commission said that Romania’s economy is expected to expand by a real 4.1% in 2019, while the European Bank for Reconstruction and Development (EBRD) increased its projection for Romania's 2019 economic growth to 4.0% from 3.2% it had forecast in May.

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