December 3 (SeeNews) - Romania's economy contracted by an annual 7.1% in real terms in the third quarter and shrank by 7.4% in the first nine months of 2009, mainly on weak performance of constructions and services, preliminary data of the country's statistics office, INS, indicated on Thursday.
The figures are similar to the ones released by INS on November 13 in a flash estimate.
Based on seasonally adjusted data, the gross domestic product (GDP) contracted by 0.6% on the quarter in the June-September period, compared to a 0.7% fall reported in the flash estimate, the INS said in a statement.
The third-quarter GDP totalled an estimated 127.780 billion lei ($45.8 billion/30.3 billion euro) in current prices. Nine-month GDP totalled an estimated 334.232 billion lei in current prices, INS said in a statement.
The construction sector dropped by 17.4% on the year in the third quarter and services posted an annual fall of 11.3%. The agricultural sector increased by 2.4% while the industry shrank by 3.5%.
Total consumption fell by 11.8% on the year in the third quarter of 2009, while fixed-asset capital formation decreased by 28.6% year-on-year, INS said.
Following is a breakdown of GDP, by sector and by type of expenditure based on seasonally unadjusted data (percentage change from a year earlier):
BY SECTOR
|
|
Q3'09 |
Jan-Sept'09 |
| Agriculture |
+2.4% |
-1.2% |
| Industry |
-3.5% |
-7.1% |
| Construction |
-17.4% |
-11.9% |
| Services |
-11.3% |
-10.3% |
BY EXPENDITURE TYPE
|
|
Q3'09 |
Jan-Sept'09 |
| Total consumption |
-11.8% |
-11.1% |
| Household consumption |
-12.7% |
-12.2% |
| Fixed capital-asset formation |
-28.6% |
-22.6% |
| Exports |
+1.6% |
-10.1% |
| Imports |
-15.3% |
-24.3% |
Romania's GDP is expected to shrink by up to 8.0% this year, after expanding by a real 7.1% in 2008.
(1 euro=4.2143 Romanian lei)