eso : Economy Grew 0.8% in the First Three Quarters of 2012

Economy Grew 0.8% in the First Three Quarters of 2012

The Cayman Islands’ economy was estimated to have grown by 0.8 percent in thefirst nine months of the 2012.

Economy Grew 0.8% in the First Three Quarters of 2012

// eso (Press Release)
The Cayman Islands’ economy was estimated to have grown by 0.8 percent in thefirst nine months of the 2012.

The increase in GDP primarily reflected growth in many sectors including construction, transport, storage and communication, hotels & restaurants and bars, and wholesale and retail trade. Financial services also grew modestly by 0.8 percent.

However, three sectors continued to suffer growth setbacks - real estate, renting and business activities, and utility sectors.

The Honourable Premier and Minister for Finance, Ms. Juliana O’Connor Connolly stated, “The economy continued to post moderate growth amidst slow demand for financial services arising from heightened uncertainty in the global economy. Nevertheless we are hopeful some of the private-public sector projects will come to fruition early in the new calendar year to sustain local economic activity.”

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News Source: http://news.eso.ky/economy-grew-08-in-the-first-three-quarters-of-2012_9762.html