Dominican Republic: Economic growth picks up in the fourth quarter
February 15, 2012
According to preliminary Central Bank estimates for the fourth quarter, GDP increased 5.3% over the same period the previous year. The reading came in above the 4.7% rise recorded in the third quarter and marks the strongest quarterly result recorded in 2011. At the sector level, the improvement was led by faster growth in the services sector. Services expanded 3.6% year-on-year, up from the 2.3% rise recorded in the previous quarter. Industry also expanded, although the 5.4% rise was down from the 7.7% increase recorded in the previous quarter. Similarly, agriculture grew 1.3%, only a fraction of the 6.5% rise recorded in the third quarter. Based on quarterly figures, the economy expanded 4.5% in 2011, which was in line with both Central Bank and Consensus Forecast expectations but was, nonetheless, down from 2010's stellar 7.8% growth rate.
Author: Armando Ciccarelli, Head of Data Solutions