ING estimates 1.6 pc negative growth in 2010

ING Bank Romania has revised its economic evolution forecast for this year from a contraction of 2.8 per cent to one by 1.6 per cent and from a decrease by 1.8 per cent to growth by 0.2 per cent in 2011, as GDP performance data for Q3 look better than what the analysts expected. Compared to Q2, in Q3 the GDP dropped by 0.7 per cent, the evolution being better than both the market opinion (-1.3 per cent) and ING’s estimations (-2.5 per cent), reads the ING report cited by Mediafax. The IMF anticipates 1.5 per cent economic growth in 2011.

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