Dominican Republic: Economic activity slows in Q2
September 10, 2014
According to preliminary estimates from the Central Bank, in the second quarter, GDP rose 6.7% over the same period last year and marked the slowest growth rate in three quarters. The increase represented a deceleration over the revised 7.7% expansion recorded in Q1 (previously reported: +5.5% year-on-year). The significant revision reflects a change of base year from 1991 to 2007 in the calculation of GDP historical data.
Q2’s slowdown came as a result of a deceleration in the agriculture sector (Q1: +0.7% yoy; Q2: +0.3% yoy). In addition, the industrial sector expanded 2.4% in the second quarter, which was down from the 3.7% rise recorded in the first quarter. Conversely, services rose 3.8% in Q2, which was an improvement over the 3.3% rise tallied in Q1.
Author: Dirina Mançellari, Senior Economist