The major decline of agriculture, which took most analysts bysurprise, and the continued decline of constructions and of tradedragged the economy down in the third quarter, deepening thedecline to 2.5% compared with the similar period of lastyear.
Positive news came from the industry sector, which continued itsrise, though at a slower pace, as well as from consumer spending,which only declined by 1.1% of GDP in the third quarter against thesimilar period of last year, compared with a 4.1% decline in thefirst quarter of 2010.
According to data announced by the National Statistics Institute,there was a 7.6% decline in the volume of activity in agriculture,which took the market by surprise.
"I cannot find an explanation for the progression of agriculture.Agriculture was expected to have either a positive or a neutralimpact on GDP. There were no particular weather aspects that couldbe cited as factors. There were ordinary phenomena, with no majorimpact. 2009 was not an exceptional year in terms of weather,either, it was an average year," said analyst AurelianDochia.
Some clarifications came from the Agriculture Ministry, explainingthe decline through the late harvesting.
"It is normal for agriculture to have a negative contribution forJuly-September. Harvesting was done later because of the massiverainfall. Normally, grain should have been harvested in July, butthis year we finished the harvesting at the end of August," saidAdrian Rădulescu, state secretary with the Ministry of Agricultureand of Rural Development.
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