Romania's GDP shrinks 1.2% in 2010, but up 0.1% in Q4

The Romanian gross domestic product (GDP) shrank 1.2 percent in 2010 from 2009, according to the National Institute of Statistics. According to the early estimations, the fourth-quarter GDP was by 0.1 percent higher than in Q3 of 2010 in real terms (seasonally adjusted data). The GDP dropped 0.6 percent in Q4 from Oct.-Dec. 2009 by gross series and it contracted 0.5 percent by seasonally adjusted series. In 2010 compared to 2009, the GDP (gross series) dropped 1.2 percent. Figures released by the European Bank for Reconstruction and Development (EBRD) reveal the Romanian economy declined 1.9 percent last year; the EBRD anticipates the Romanian economy to grow 1.1 percent in 2011. The World Bank, in its report on the 2011 World Economy Outlook estimated that the Romanian economy dropped 1.9 percent last year and it anticipated it will grow 1.5 percent in 2011 and 4.4 percent in 2012. AGERPRES