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Eurostat: Romania registers second annual GDP contraction in EU during fourth quarter of 2010

Greece and Romania were the only European Union member states to have registered a decline in the gross domestic product (GDP) over the whole year during the fourth quarter of 2010, according to the second estimation released by the European Statistical Office (Eurostat) on Thursday.

While the European Union registered a 2.1 percent increase in the GDP during the fourth quarter of 2010, compared with the similar period of 2009, and the euro area had a 2 percent economic growth, in Greece the GDP registered a 6.6 percent contraction over the whole year, and Romania registered a 0.6 percent economic decline. In the preliminary Eurostat estimation released on February 15, Romania's decline stood at 0.5 percent during the last quarter of 2010.

Concerning the data on the GDP evolution during the fourth quarter of 2010 compared with the previous quarter, the European Union registered a 0.2 percent growth of the GDP and in the euro area the GDP increased 0.3 percent. Only four states registered a decline in the GDP during the fourth quarter: Greece (1.4 percent), Great Britain (0.6 percent), Denmark (0.4 percent) and Portugal (0.3 percent). In Romania's case, the GDP increased 0.1 percent in the fourth quarter of 2010 compared with the previous three months.

Over the whole year 2010, the GDP grew 1.7 percent in the euro area and 1.8 percent in the European Union, after it registered a 4.1 percent decline in the euro area and a 4.2 percent drop in the European Union in 2009.

Sursa: http://www.actmedia.eu

Tags: percent quarter registered decline union european romania eurostat during fourth euro