Analysts believe there are few chances that the economy will perform better in the third quarter against the last three months of last year, with a modest growth being possible as a result of the robust export growth, the reversal of public sector salary cuts and the slight growth in the consumer spending in the first quarter.

In the last quarter of 2010 the economy grew 0.1% against the preceding quarter, above the expectations of analysts, who had anticipated a decline. The economy went into recession in the third quarter of 2008, and since the autumn of 2008 the GDP recorded declines in every quarter, but for the slight growth, of 0.1% in the third quarter of 2009, in the second quarter of 2010 and in the fourth quarter of 2010.

"I believe there are few chances the economy will perform better in the first quarter of 2011 than in the last quarter of 2010, because infrastructure investments will start at best in the second if not in the third quarter, as a result of unfavourable weather conditions in the first quarter and the time needed at the beginning of each year for planning infrastructure works according to the allocated budget and to government priorities," commented Melania Hancila, chief economist of Volksbank.

Nicolaie Chidesciuc, chief economist of ING Bank, says positive economic growth in the first quarter of 2011 does not mean we are out of recession in the first quarter of 2011.

"There is no clear definition of entry into recession and of exit from recession. If we record economic growth in the first quarter of 2011 and in the next quarters, and the figure for the fourth quarter of 2010 is not revised to a decline, we can say we were out of recession at the end of the third quarter of 2010."

Analysts believe there are few chances that the economy will perform better in the third quarter against the last three months