Romanian GDP Growth Slows in Q2
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Romania's economy grew by 2.7% year-on-year in the second quarter of 2023, slowing from a 4.1% expansion over the same period last year, seasonally-adjusted data from the Bucharest-based National Institute of Statistics (INS) showed on Thursday.
It marked the ninth consecutive period of growth but at the softest pace in the sequence, as household consumption slowed sharply (1.7% vs 6.4% in Q1), while government spending declined (-0.1% vs 6.4%).
Meanwhile, fixed investment (11.7% vs 10.4%) continued to grow. On net trade, exports (-1.1% vs 1.7%) decreased less than imports (-3.4% vs 0.2%).
On a seasonally adjusted quarterly basis, the country gross domestic product (GDP) advanced 0.9% in Q2, accelerating from a 0.2% gain in the previous quarter.
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