News » December, 2010 » 3 December 2010
Consumer spending withstands VAT hike and salary decline
03.12.2010, 00:13 | Economy | 843 views
The major decline of agriculture, which took most analysts by surprise, and the continued decline of constructions and of trade dragged the economy down in the third quarter, deepening the decline to 2.5% compared with the similar period of last year. Positive news came from the industry sector, which continued its rise, though at a slower pace, as well as from consumer spending, which only declined by 1.1% of GDP in the third quarter against the similar period of last year, compared with a 4.1% decline in the first quarter of 2010. Read more on ZF.ro
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