The 2.5 per cent annual growth of Romania’s industrial production price index (IPPI) was the second highest in the European Union in April according to Eurostat which calculated that the index registered a 3.9 per cent drop at European level, Mediafax informs. The highest IPPI growth rhythm was registered by Malta (22 per cent), in a tie with Romania and Hungary. Sweden ranked third (1 per cent) and Slovenia ranked fourth (0.2 per cent).
On the other hand, Eurostat has revised downwards by 0.1 per cent the data on the EU’s economic contraction in Q1, estimating a 4.5 per cent correction in the EU’s GDP compared to the 4.4 per cent estimate issued in May, Mediafax informs.
Eurostat has also modified the estimates on the economic drop in the Euro Area, announcing a contraction of 4.8 per cent in the GDP of the 16 states that adopted the single currency compared to the 4.6 per cent level presented in May. Romania’s GDP has contracted by 6.4 per cent in Q1 of 2009 compared to its level a year before and has dropped by 2.6 per cent compared to its level registered in Q4 of 2008.