“On the other hand, we expect a re-dynamization of private consumption at 6% in 2021 and 2022” respectively, Radulescu also said in a BT analysis.
Romania’s statistics board INS on Tuesday released the statistical data regarding the retail trade dynamics (a private consumption barometer, the main component of GDP), in November 2019.
Statistics show a slowdown of the annual growth rate towards the lowest level since June, an evolution which shows an increase in consumer prudence, amid challenges regarding the macroeconomic balance.
“Nevertheless, retail trade has evolved at a rate above potential for the fourth consecutive month, in November, confirming the positive climate in the field of consumption, upheld by a lax mix of economic policies”, Radulescu also said.
According to INS, retail sales volume grew for the six consecutive month, in November, at a monthly rate of 0.8%, lower than 0.9% recorded in October.