Romania remains fastest-growing economy in EU despite slowdown

Romania recorded an economic growth of 4.6% (adjusted for seasonality) in the third quarter of this year compared with the same period in 2015. It was the highest growth rate in the European Union, according to an estimate released yesterday by the EU’s statistical office Eurostat. It was the second consecutive quarter in which Romania had the highest annual growth in the EU, but the pace of annual growth recorded by the Romanian economy slowed from 5.8% in the second quarter to 4.6% in the third quarter. According to Eurostat, the Eurozone’s economy grew by 1.7% in the third quarter of this year compared to the same period last year while the European Union recorded an annual economic growth of 1.9% during this period. In both cases, the growth pace was similar to the one recorded in the second quarter. Romania’s GDP saw an advance of only 0.6% in the third quarter of the year compared to the second quarter. By comparison, the GDP growth amounted to 1.5% at the end of the second quarter compared to the first three months. Croatia had the highest growth in Q3 when compared to the previous quarter, of 1.7%, followed by Slovenia, with 1%. editor@romania-insider.com