Economics
Romanian Economy Advances at Fastest Since 2008, Beats Estimates
- GDP advanced 6% compared with 4.1% median estimate in survey
- Pre-election tax cuts have boosted consumption in past year
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Romanian economic growth advanced at the fastest pace since 2008, exceeding analysts’ estimates, supported by a booming consumption amid tax cuts and wage increases.
Second-quarter gross domestic product gained a preliminary 6 percent from a year earlier, compared with a 4.3 percent gain in the previous three months, the National Statistics Institute said Friday. That’s more than the 4.1 percent median estimate of nine economists in a Bloomberg survey. GDP grew a seasonally adjusted 1.5 percent from the first quarter.