Romania posts EU’s third-largest GDP contraction in Q1

Romania, with a GDP drop of 3.2 percent, posted the third-largest contraction of the gross domestic product in the European Union in the first quarter of 2010 from the same period in the prior year, show figures made public by Eurostat.

In the three months of 2010 compared to the fourth quarter of 2009 Romania had the sixth-largest GDP contraction in the EU, with its economy having shrunk 0.3 percent.