GDP falls 7.4 percent in nine months

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Romania’s GDP went down 7.4 percent in the first nine months of 2009, reads a release sent on Thursday by the National Statistics Institute (INS).

The gross domestic product estimated for the third quarter of 2009 was in real terms lower by 0.6 percent as against the second quarter of 2009 (seasonal adjusted series). Compared to the same quarter of 2008, the GDP (gross series) reported a diminution of 7.1 percent and cumulated over Jan. 1-Sept. 30, 2009, the gross domestic product was by 7.4 percent lower than the same period of 2008, reads the release of the National Statistics Institute (INS).

The gross domestic product (gross series) estimated for the second quarter of 2009 was of 334,231.5 million lei and in seasonally adjusted data, the estimated GDP for the third quarter of 2009 was of 119,047.8 million lei current prices, down in real terms by 0.6 percent compared to the second quarter of 2009. The National Statistics Institute emphasizes that starting 2009, seasonally adjusted estimates are being computed by the regressive method, a method recommended by the European norms.

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