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Eurostat: Romania had the fourth GDP contraction in EU in Q3Updated: 04-12-2009 | Economy
The economy of the European Union and that of the euro zone returned on a positive trend in July-September 2009, thanks to the 0.3 percent expansion of GDP in EU, and of 0.4 percent in the euro zone, in Q3 compared to Q 2, according to the estimates published yesterday by the European Office of Statistics (Eurostat), Agerpres informs.
According to the data, with a fall of GDP of 0.7 percent, Romania had the fourth contraction of GDP in the European Union in Q 3, compared to Q 2. The biggest fall of GDP was registered in Estonia (minus 2.8 percent), followed by Cyprus (minus 1.4 percent), and Hungary (minus 1.8 percent). Five EU member states, among which Romania, registered a regression of GDP in Q 3 compared to Q 2. In exchange, in 13 member states GDP registered a growth vs. the previous quarter. In terms of annual rate, Q 3 2009 compared to Q 3 2008, Romania had the fourth GDP contraction in the European Union with a regression of 7.1 percent. First ranks Estonia (minus 15.3 percent), followed by Lithuania (minus 14.2 percent), and Hungary (minus 8 percent).
On another hand, the volume of the retail trade in Romania decreased by 1.9 percent in October 2009 vs. the previous month, Romania registering the most important fall of the retail trade in the European Union, according to Eurostat.
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