The year 2016 brought the best dynamics of private consumption since 2008, but the first month of 2017 showed a continuation of the deceleration in annual dynamics, considering that the impact of eliminating the additional fuel excise duty was offset by consumers’ great caution (amid political tensions and uncertainties with respect to the mix of economic policies on the medium term), according to Banca Transilvania chief economist Andrei Radulescu.
”Considering the recent evolution of the indicator measuring consumer confidence (deterioration in February), the deceleration in the annual dynamics of retail trade is expected to continue on the short term.”