Economic growth accelerated in the third quarter of the year to 9.1%, bringing the nine-month GDP rise to 8.9%, with the increase being mainly driven by the growth recorded in the agricultural and the constructions sector, while services and industry slowed down significantly. The agricultural output reached record levels this year, seeing the highest ever growth rate, of almost 35%, in the third quarter of 2008 against the same time in 2007 (a droughty year), while industry and services halved their growth rate. Analysts say the GDP advance in the third quarter stemmed from agricultural and consumption growth based on changing factors, with an adjustment of the GDP being inevitable. "We see a major consumption increase. Its adjustment is unavoidable, and has to occur as soon as possible. The Government needs to somehow adjust consumption, and do it fast, otherwise the market will, and it will be painful," says Ionut Dumitru, chief economist of Raiffeisen Bank.
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