Friday, August 15, 2008

GDP growth slows to 4.5% y/y in Q2.

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GDP growth slows to 4.5% y/y in Q2. GDP grew by 4.5% y/y in Q2 slowing down from revised 5.1% y/y in Q1, flash GDP estimates of the statistical office reveal. The slowdown of main trading partners, currency appreciation and deteriorating terms of trade had negative repercussions on the business sector. Households’ demand also contributed to the slowdown, hit by relatively high inflation. The statistical office is to announce GDP and breakdowns by main components on Sep 10. The growth rate in Q2 has been expected to decelerate to 4.8% in Q2, according to analysts polled by newswire CTK . The slowdown sentiment is based on industrial statistics, domestic demand, and real disposable income, and investment activity. All these early warning indicators point to weakening growth rates by the end of the year and next year.

No. 6: If you don’t give it to me you’ll only lend it to someone else and look where that got us

Bank deleveraging has barely started

GDP growth slows to 4.5% y/y in Q2.

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