Romania's economy increased in the second quarter of the year by 0.3% compared to the previous quarter but dropped by 0.6% compared to the similar period, last year, Romania's National Statistics Institute reads. Economic analysts declared that this is a positive sign, as it shows that the economic situation improves.
Romania's National Statistics Institute data shows that in the first six months, the country's GDP decreased by 1.5% compared to the first quarter in 2009. The increase was mainly due to the industry and gas consumption.
BCR chief economist Lucian Anghel declared that the message is positive and reveals that the economy improves. The upcoming quarters are the most important to determine the trend of the economy, Anghel concluded.
ING Bank chief economist Nicolaie Alexandru Chidesciuc declared that the GDP is in line with the market expectations even if is a bit lower than the ING estimate. He underlined that Romania's industry registered a performance of over 3% which means that other sectors dropped considerably.
Anghel declared that there are chances for Romania to register an economic growth in 2011.