Romania 6-Month Economic Outlook Darkens In August – Survey

Romanian economic outlook for the next six months declined for the third straight month in August, on mounting pessimism in financial markets and renewed concern about Europe’s sovereign debt crisis, a ZEW/Erste survey showed Friday.

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Economic expectations for Romania dropped to minus 0.1 points in August, from 21.2 points a month earlier.

However, the country remains a top business destination in the Central and Eastern Europe region, followed by Poland, with minus 15.2 points, and Hungary with minus 15.7 points.

In the CEE region, economic expectations on a six-month horizon dropped 21.4 points to minus 26.4 points in August.

"The major decrease of experts' optimism for the CEE region is likely to be a result of the increasing concerns regarding the Eurozone's economic prospects and reflects the increasing uncertainty on the financial markets," the survey noted.

ZEW-Erste Group Bank's monthly survey includes responses from analysts in Romania, Bulgaria, Croatia, the Czech Republic, Hungary, Poland, Serbia, Slovakia, Slovenia and Turkey.

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