Romania's economy drops 0.5% y/y in Q2, statistics show

In gross series, the GDP stood at 114.7 billion lei in the second quarter, 0.5 percent down in real terms compared to the similar interval in 2009.

According to INS, the industry was the branch that recorded the biggest increase of the volume of activity, of 5.9 percent. Smaller increases were reported in agriculture and fishing (0.7 percent), as well as in financial activities, real estate and services for companies (0.8 percent).

Declines of the volume of activity were seen in the construction sector (8.3 percent), trade activities, hotels and restaurants, transports and telecommunication (4.2 percent) and other services (2.7 percent). Thus, the volume of interests collected at the state budget slipped 2.7 percent.

Compared to the previous trimester, the GDP inched 0.3 percent in the second quarter.

For the first semester of 2010, the data indicate Romania's GDP reduced 2.4 percent from the same period last year. In gross series, the GDP amounted to 211.4 billion lei in the first six months, 1.5 percent down from the first half of 2009.