Gross domestic product decreased at a quarterly rate of 0.5% in real terms in the July-September period. The figures are unchanged from last month’s report.
Farming output fell 29.8% on the year in the third quarter, after a severe drought in the summer, while activity in the public administration and defense declined 1.3% year-on-year, the data showed.
Constructions had a negative contribution of 0.7% to the third-quarter GDP, while activity in industry and in the financial and insurance sector edged down 0.3% and 0.1% on the year, respectively.
On the positive side, output in the professional, scientific and technical services sector increased at an annual rate of 13.8% in the third quarter of 2012, while real estate transactions were up 10.4% on the year.
Domestic demand increased a tepid 0.1% in the third quarter from the year-earlier period, supported by a 9.9% growth in gross capital formation. However, final consumption fell 1.6% on the year, on fewer expenses in both household and public sectors.
Exports declined 4.2% on the year in the third quarter, while imports fell at a slower pace of 1.9%, the data showed.
For the first nine months of 2012, Romanian GDP grew at an annualized rate of 0.2%, on growing activity in the professional and technical services and real estate sectors, INS said.
Romanian authorities expect economic growth will slow to around 1% in 2012, from 2.5% a year earlier, hurt by a feeble harvest and falling exports to European markets.
The International Monetary Fund, Romania’s main foreign creditor, estimates the country will post a modest growth in 2013 as well, following delays in EU fund absorption and slow implementation of structural reforms.