Recession returns to Romania

16 May 2012

Romania is officially back in recession, according to the National Statistics Office, which reported that the country’s gross domestic product shrank 0.1 percent between January to March. This followed a 0.2 percent slip in the last quarter of 2011. In 2009, the country dropped into a major recession, with GDP falling a full 7 percent. A difficult winter is thought to have been largely to blame for the poor showing, as blizzards blocked the delivery of goods and manufacturing materials. Cargo routes along the Danube were also disrupted.

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