According to preliminary estimates, GDP increased 5.0% year-on-year in the fourth quarter, which followed the already robust 6.6% expansion seen in the third quarter. Based on quarterly figures the economy expanded 5.2% in 2011, which contrasted the 0.3% contraction recorded in 2010 as well as the overwhelming 17.7% plunge witnessed in 2009. On the downside, industrial production expanded only 3.2% annually in December, the weakest expansion observed in over a year.
