Thursday, November 12, 2009

Estonian GDP contracted by 15.3% in Q3

The gross domestic product of Estonia decreased by 15.3% in the third quarter of 2009 compared to the same quarter last year.

In the 1st quarter of 2009 the GDP decreased by 15% and by 16.1% in the 2nd quarter.

Compared to the 2nd quarter, the adjusted GDP decreased by 2.8% in the 3rd quarter. The decrease slightly decelerated since in the 1st quarter the GDP decreased by 6.0% and in the 2nd quarter by 3.4% compared to the previous quarter.

However, it shows that the Estonian economy is still decelerating whereas they were many who promised a recuperation in the second half oy 2009. Euro is still far away...Isn't it Mr. Ansip?

1 comments - React:

Jack said...

All the world has a long way to go to become well again, and maybe it is so far far away.