Erste Group revises up Romania’s economic growth estimate

Austrian group Erste revised up its estimate on Romania’s GDP growth for this year, from 5.1% to 5.5%. It has done so after Romania’s National Statistics Institute (INS) yesterday estimated an annual economic growth of 5.8% for the first six months of this year. However, the Erste analysts continue to expect a significant slowdown in Romania’s economic growth in the second part of the year. Industry, service and retail sales have performed well in Romania, whereas the construction sector has seen weak results, said Eugen Sinca, BCR economist. Consumption has been the main growth factor, whereas the net exports have had a negative contribution. editor@romania-insider.com