Romania 3Q GDP Sees 4th Largest Decline In EU

Romania posted the fourth biggest quarterly economic fall in the European Union in July to September, while the EU's gross domestic product inched up 0.2% on the quarter, official data showed Friday.

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Compared with the previous quarter, Romania's GDP declined 0.7% in the third quarter from a 1.1% contraction in the April-June period, EU's statistics office Eurostat said in a flash estimate.

In the second quarter, European Union's GDP declined by 0.3%.

Compared with the same quarter of 2008, Romanian GDP decreased by 7.1% in the third quarter, also the fourth largest economic contraction in the EU bloc.

The EU's GDP decreased by 4.3% on the year in July-September.

The sharpest annual economic contractions in the EU bloc were reported in Estonia (-15.3% from the third quarter of 2008), Lithuania (-14.3%) and Hungary (-8%).

In the third quarter, euro-zone GDP rose 0.4% on the quarter, but was down 4.1% on the year in seasonally adjusted data, according to Eurostat.

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