FX.co ★ Romanian GDP Expands 0.8% In Q2

Romania experienced a slight acceleration in economic growth during the second quarter, according to preliminary data released by the statistical office on Wednesday.

On an unadjusted basis, GDP grew by 0.8 percent annually in the June quarter, an improvement over the previously revised 0.1 percent increase seen in the first quarter of the year.

However, seasonally adjusted GDP growth showed a deceleration, slowing to 0.8 percent from 2.2 percent recorded in the prior quarter.

Quarter-over-quarter, the GDP rose by a seasonally adjusted 0.1 percent in the second quarter, down from the 0.5 percent growth witnessed in the first quarter of the year.

For the first half of 2024, the Romanian economy expanded by 0.7 percent compared to the same period in 2023.

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

In response to these figures, ING has revised its Romanian GDP forecast for 2024 downwards from 2.8 percent to a more cautious 2.0 percent.