Dominican Republic: Economy decelerates in Q1
June 11, 2015
According to preliminary data from the Central Bank, the economy grew 6.5% in the January-March period over the same period last year, which was the slowest expansion in nearly two years. The figure marked a slight deceleration over the 6.6% growth recorded in the previous quarter.
Q1’s growth was driven by an acceleration in the agriculture sector, which expanded 5.8% over the same quarter of the previous year (Q4: +1.2% year-on-year). Conversely, industry decelerated as it grew 5.5% in Q1, which was down from the 9.6% increase seen in the previous quarter. In addition, the service sector expanded 4.9%, which was a deceleration over Q4’s 5.6% in the fourth quarter.
Author: Dirina Mançellari, Senior Economist