RZB: Romania’s economy hitting low in Q3
The Romanian economy is close to a low in the third quarter, after a range of indicators such as the processing industry output and the retail sales point to a possible upturn of the economy, Raiffeisen Bank (RZB) analysts say.
„Even though we need more data to prove the positive trend besides the above-mentioned ones, we believe the economic activity is close to its low in the third quarter.
Nevertheless, we believe the recovery will be gradual”, RZB analysts say in a report on the Romanian macro-economic developments.
The report also says the disinflation tendency will keep on in the coming months and given the weaker economic activity, it will lead to lower yields and interests in the next quarters.
„Even though the inter-banking interests climbed slightly in the last two weeks, they have dropped over the last days and we believe this will be the normal trend in the months to come. The Public Finances Ministry is also trying to push the yields to bonds to lower levels by rejecting the offers at the government bonds tender”, Raiffeisen Bank chief economist Ionut Dumitru said.