The Romanian GDP growth was confirmed at 3.0 percent year-on-year in the third quarter of 2019, softer than a 4.4 percent expansion in the previous period. This was the weakest GDP growth since the second quarter 2014, as household consumption slowed (2.0 percent vs 5.1 percent in Q2), while government expenditure fell (-0.3 percent vs 15.3 percent). Also, net foreign demand contributed negatively to growth, as exports went up 4.2 percent while imports rose at a faster 9.0 percent. Meantime, fixed investment advanced faster (25.6 percent vs 18.9 percent). On a seasonally adjusted quarterly basis, the economy advanced 0.5 percent in the third quarter, compared to a 0.8 percent expansion in the prior quarter. This was the weakest GDP growth rate since the second quarter of 2014. GDP Annual Growth Rate in Romania averaged 3.23 percent from 1996 until 2019, reaching an all time high of 12.60 percent in the fourth quarter of 2004 and a record low of -7.40 percent in the third quarter of 1997. source: Institutul National de Statistica
GDP Annual Growth Rate in Romania is expected to be 3.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Romania to stand at 4.10 in 12 months time. In the long-term, the Romania GDP Annual Growth Rate is projected to trend around 4.20 percent in 2020, according to our econometric models.