Recession in Romania
11th June 2012Romania returned to a state of recession after a 0.1% decline in its GDP in the first quarter said the Romanian Statistics Institute on 6th June thereby confirming the first estimates published in May. Romania had already recorded a decline in its economy in the fourth quarter of 2011. The decline in the GDP was caused by a major reduction in amount of activity in the civil service and the defence sector says the INS. Industry also witnessed a contraction in its activity (04%), likewise the construction sector (-1.2%).
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