The economy remained in recession in the first quarter of theyear, with the GDP down by 3.4% in real terms compared with thesimilar period of 2009, and by 0.5% against the last quarter of2009, according to analyst estimates.
Romania is still in recession territory, with quarterly economicgrowth most likely to be postponed until the second half of theyear.
Based on seasonally adjusted data, the GDP fell by 0.5% in thefirst quarter of the year against the fourth quarter of 2009,according to an internal survey conducted by the Association ofFinancial-Banking Analysts in Romania.
Although positive signals emerged in the real economy in March,they did not manage to offset the weak performance of the previousfew months.
The wide majority of economic analysts were disappointed in theindustrial production, trade, and constructions figures forFebruary, which continued to see declines. As a result, theyrevised forecasts for this year's economic growth downwards, tounder 1%.
For the entire year the IMF now expects the economy to stagnate,but does not rule out a contraction of up to 0.5%
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