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Romania's GDP shrinks 6.5% in 4QUpdated: 05-03-2010 | Economy
Romania's gross domestic product for the fourth quarter 2009 contracted 6.5% from the same period of 2008, according to the revised data provided by the National Institute of Statistics.The country's GDP for the last quarter of 2009 is estimated at 152.295 billion lei (€35.7 billion). The average exchange rate for the quarter ending December 31 was 4.2659 lei/euro, according to data provided by the National Bank of Romania.
The Statistics Institute has reaffirmed data on q-o-q economic contraction for 4Q to a seasonally adjusted 1.5%. 4Q GDP was estimated at 122.3 billion lei.INS has lifted its full-year economic contraction forecasts from 7.2% to 7.1%, against Q1-Q3 contraction of 7.4%, with the GDP standing at 491.27 billion lei (€119.5 billion).Fourth-quarter data also indicate a broad year-on-year decline in all sectors, the only exceptions being industry with 4% advance and agriculture with 0.7%.
Analysts polled by NewsIn were expecting a recovery in industry in the last quarter of 2009 and potential spillover effects from constructions, agriculture and services. The construction industry suffered the sharpest decline - 15.9%. Commerce, HoReCa and transport and communication dropped 12.5%.
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