Romania's 1Q GDP +0.5% On Quarter; Economy Exits Recession - Sources

05.12.2011 By Florentina Dragu

Romanian economy grew by 0.5% in the first three months of 2010 compared with the previous quarter and is technically out of recession, according to governmental sources that cited data from the statistics institute.

In annual terms, the economy increased by a meager 0.2% in the first quarter, the mentioned people told MEDIAFAX reporters Thursday.

The statistics institute is due to release quarterly economic growth data tomorrow (May 13).

Romania's gross domestic product grew by 0.1% on the quarter in the last three months of 2010, after two consecutive quarters of decline.

The government estimates an economic increase of 1.5% in 2011, after a decline of 1.3% in the previous year.