Romania 1Q GDP Sees Fourth Largest Decline In EU

The highest quarterly economic growth in the EU was reported in Portugal (+1% compared with the fourth quarter of 2009), while Lithuania and Estonia saw the sharpest contractions, of 4.1% and 2.3% respectively.

Compared with the first quarter of 2009, Romania’s GDP fell 2.5% in the January-March period, also the fourth biggest decline across EU state, EU’s statistics office Eurostat said.

In the EU bloc, seasonally adjusted GDP rose 0.3% on the year.