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Romania 2Q GDP +0.3% On Quarter, -0.6% On Year

Romanian second-quarter gross domestic product grew by 0.3% in seasonally adjusted data compared with the earlier quarter, a flash estimate of the country’s statistics institute showed Friday.
Romania 2Q GDP +0.3% On Quarter, -0.6% On Year
Thomas Dinca
13 aug. 2010, 10:14, English

Preliminary adjusted data showed the second-quarter GDP fell 0.6% from the same period of 2009. In unadjusted data, the yearly contraction in the April-June period was of 0.5%.

In the first half of 2010, the economy declined by 1.5% compared with the year-ago period, the institute said.

Detailed figures for the second-quarter GDP are due for release September 1.

Romanian economy declined by a sharp 7.1% in 2009, after growth of over 7% a year before.

For 2010, the authorities forecast a contraction of around 1.9%.