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Romania ‘09 4Q GDP Sees 2nd Largest Decline In EU

Romania posted the second biggest quarterly economic fall in the European Union in October to December last year, while the EU's gross domestic product inched up 0.1% on the quarter, official data showed Friday.
Romania ‘09 4Q GDP Sees 2nd Largest Decline In EU
12 feb. 2010, 12:51, English

Compared with the third quarter of 2009, Romania’s GDP declined 1.5% in the fourth quarter, from a 0.6% contraction in the July-September period, EU’s statistics office Eurostat said in a flash estimate.

In the third quarter, European Union’s GDP rose by 0.3%.

Compared with the same quarter of 2008, Romanian GDP decreased by 6.6% in the fourth quarter, the fourth largest economic contraction in the EU bloc.

The EU’s GDP decreased by 2.3% on the year in October-December 2009.

The sharpest annual economic contractions in the EU bloc were reported in Latvia (-17.9% in the fourth quarter of 2009 compared to the same quarter a year earlier), Estonia (-9.4%) and Lituania (-13%).