The gross domestic product (GDP) in the fourth quarter of 2009 stagnated at previous quarter’s level (+0.0%), upon adjustment for price, seasonal and calendar effects. Hence the slight upward trend observed for the economy in the second (+0.4%) and third quarter of 2009 (+0.7%) did not continue.
Year-on-year comparison
In contrast to the quarter-on-quarter comparison, the price-adjusted GDP was down on a year earlier: In the fourth quarter of 2009, it was by 1.7% smaller than in the same quarter of the previous year (calendar-adjusted –2.4%). Although the decrease was smaller than in the previous quarters of 2009, the extent of the economic crisis is still obvious.
