News » February, 2011 » 13 February 2011
Analysts expect recession confirmation in Q4 2010
13.02.2011, 23:49 | Finance-Banks | 748 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
|
Latest news in category Finance-Banks
NBR governor Mugur Isărescu apparently ignores the fact that banks are refusing to negotiate with their customers and insists, after the passing of the law of giving in payment, that the parties of the loan agreement should negotiate: "Negotiation is the basis of the functioning of the market economy, in the European Union, because that is where we are living. Romania was and has been a loyal partner to the European project and we should not forget that". read more...
The European Central Bank (ECB) pursues its mandate and defends its independence, according to statements of the president of the institution, Mario Draghi, who responded yesterday, to some criticisms coming from several German officials concerning the lax monetary policy of the ECB. read more...
The British pound yesterday saw the biggest decline against the dollar since March 2009, after London mayor Boris Johnson, one of the most popular politicians in the country, said he would start a campaign in favor of the United Kingdom leaving the European Union (Brexit) in the referendum scheduled in June. read more...
|
|
