Subdued Bounce In Consumer Spending

Romanian consumer spending took a battering in 2009 with real private consumption contracting at a higher rate than the overall economy on a year-on-year (y-o-y) comparative - 7.8% versus 7.1% respectively. While confidence has picked up cautiously so far in 2010, high unemployment continues to taint the near-medium outlook for a sustained pickup in household expenditure with retrenchment still very much in play.

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