A flash estimate of the National Statistics Institute said that Romania’s Q3 gross domestic product shrank by a seasonally adjusted 0.7% QoQ as compared to the earlier quarter. Preliminary unadjusted data showed that Q3 gross domestic product had fallen by 7.1% YoY.
In the first 9 months of 2009, Romania's GDP posted a 7.4% YoY drop in unadjusted terms. Romanian GDP fell by 7.6% in real terms in the first half compared to the same period of 2008, weighed down by declines in industry and services.
The International Monetary Fund, whose aid Romania has sought since last spring to cope with recession, estimates the country's GDP will contract by 7.5% to 8% by year’s end, a slight improvement from an earlier estimate of 8.5%.
(Sourced from www.romaniantimes.at)
