Romania's economic growth slows down to 3pct in Q3 2019 against same period of 2018

Romania's economic growth slowed down in Q3 of this year to 3 percent on gross series against the same period of last year, after the Gross Domestic Product (GDP) went up 4.4 percent in Q2 against the same period of 2018, according to the data published by the National Institute of Statistics (INS) on Thursday. 

On seasonally adjusted series, the GDP growth in Q3 stood at 3.2 percent against the similar period of last year, taking into account that the economic growth in Q2 stood at 4.3 percent compared to the corresponding period of 2018. 

Compared to the previous quarter, economic growth slowed down to 0.6 percent in Q3, compared to 0.8 percent in Q2 from Q1. 

In the first nine months of this year, the GDP increased by 4 percent as gross series and by 4.1 percent as seasonally adjusted series compared to the January-September 2018 interval. Last year, in the first nine months, the economic growth registered in Romania stood at 4.2 percent both on gross and seasonally adjusted series against the similar period of 2017. 

The European Commission showed in its recently published autumn forecast that the growth rate of the Romanian economy would slightly increase this year up to 4.1 percent, from an advance of 4 percent in 2018, to subsequently slow down to 3.6 percent in 2020 and 3.3 percent in 2021.