Dominican Republic: Economy decelerates in Q1
June 12, 2014
According to preliminary estimates from the Central Bank, in the first quarter, GDP rose 5.5% over the same period last year. The increase represented a deceleration over the 7.3% expansion recorded in Q4, which had marked the highest growth rate in three years.
Q1’s slowdown came as a result of a deceleration in the agriculture sector (Q1: +6.2% year-on-year; Q4: +7.7% yoy). In addition, the services sector expanded 4.3% in the first quarter, which was down from the 4.7% rise recorded in the fourth quarter. Conversely, manufacturing rose 5.9% in Q1, which was an improvement over the 3.5% rise tallied in Q4.
Author: Dirina Mançellari, Senior Economist