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Analysts expect recession confirmation in Q4 2010
13.02.2011, 23:49 | Finance-Banks | 744 views
The economy remained in recession in the fourth quarter of 2010, with a 1% annual decline and a 0.3% quarter-to-quarter decrease, BCR analysts estimate. The main cause behind the prolonged GDP contraction is estimated to be the continuously shrinking population consumption, as retail sales went down by more than 7% in December. Raiffeisen Bank analysts also believe households' falling consumption expenses hurt GDP the most in the last quarter of 2010. However, Raiffeisen is counting on positive effects on the side of industrial production, narrowing external deficit and rising government expenditures, so that it "bets" on an economic decline near zero. Read more on ZF.ro
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