Romania Revised GDP Data Show Mild Quarterly Growth In 3Q/09

03.03.2010 ZF English

Romania’s gross domestic product grew modestly in the third quarter of 2009 compared with a quarter earlier, putting a temporary stop to the country’s economic decline, according to revised data from the statistics institute INS.

INS revised figures showed Wednesday the GDP nudged up 0.1% in the third quarter compared with a quarter before, from a 0.6% contraction previously estimated.

The statistics institute also revised the data on the first two quarters of last year. Seasonally adjusted figures now show an economic decline of 1.5% in the second quarter compared with the first quarter, from a contraction of 1.1% initially estimated.

In the first quarter of 2009 compared with the last quarter a year before, Romania's GDP fell by 4.1%, less than a previous estimation of a 4.6% decrease.

Romanian economy was hurt by the global recession starting with the third quarter of 2008, when the GDP fell by 0.1% in adjusted terms compared with a quarter before.

The country's economy declined by 7.1% in 2009, revised from a larger contraction of 7.2% previously estimated.

Compared with the fourth quarter of 2008, revised data showed the economy declined by 6.5% in real terms during the last quarter of 2009, also a slight improvement compared with a 6.6% contraction predicted in February.

In the fourth quarter of 2009, the GDP fell by a seasonally adjusted 1.5% compared with a quarter earlier, INS said.