Romania’s economy falls 10.5% in second quarter

Romania’s economy decreased by 10.5% in the second quarter of this year (Q2) compared to the same period of 2019. When compared to the first quarter of 2020, the drop was 12.3%, according to the flash estimate released by the National Statistics Institute (INS) on Friday, August 14, according to Romania-Insider.com.

In the first six months of 2020, the Gross Domestic Product (GDP) decreased by 4.7%, in gross terms, and by 3.9%, in seasonally adjusted terms, compared to the first half of 2019.

In the first quarter of 2020, compared to the fourth quarter of 2019, the GDP growth was 0.3% in seasonally adjusted terms, so the Romanian economy avoided a technical recession, namely two consecutive quarters of contraction, Profit.ro commented.

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