Economics
Eastern EU Economic Growth Speeds Up on Consumer Spending
- Romanian growth, at 8.8% from year ago, is EU’s fastest
- Tighter monetary policy will probably cause slowdown in 2018
Photographer: Akos Stiller/Bloomberg
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Economic growth in the European Union’s eastern members picked up in the third quarter as rising wages propelled consumer spending.
While the expansion of gross domestic product accelerated across the region from the previous quarter, Romania delivered the biggest surprise, with an 8.8 percent advance, significantly exceeding a median estimate of 6.2 percent in a Bloomberg survey. Czech and Polish growth also topped analysts’ predictions. On the other hand, Hungary slightly missed a 3.6 percent estimate, probably putting the government’s goal of 4.1 percent this year out of reach.