Dominican Republic: Economic growth picks up in the fourth quarter
November 11, 2011
According to preliminary Central Bank estimates for the third quarter, GDP increased 4.5% over the same period last year. The reading came in above the 3.6% rise recorded in the second quarter and marked the strongest result this year. At the sector level, the improvement was led by faster growth in industry and services. The industry sector experienced the strongest acceleration, expanding 7.6% year-on-year, up from the 3.8% rise recorded in the previous quarter. Services rose from a 1.3% expansion in the second quarter to a 2.3% increase in the third. Finally, agriculture expanded 6.3% over the same period last year, marking a deterioration compared to the 13.8% expansion observed in Q2. According to the Central Bank, the country's economy will grow about 5.0% in 2011.
Author: Armando Ciccarelli, Head of Data Solutions