Based on advance estimates1, the economy grew by 0.5 per cent on a year-on-year basis, down from the 9.3 per cent growth in the previous quarter. On a seasonally-adjusted quarter-on-quarter annualised basis, the economy contracted by 7.8 per cent, compared to the 27.2 per cent expansion in the previous quarter.

 

Click here for full article.

 

 

MINISTRY OF TRADE AND INDUSTRY

14 July 2011