Macro Update - GDP growth ramps up in 3Q; 5.8% target in reach
  • 2014-10-01T00:00:00
  • Macroeconomics
GDP growth through the first nine months of the year was 5.62% YoY exceeding initial estimates of 5.4% on the back of strong expansion in the industrial and construction sector. If the current pace of expansion continues the government’s target of 5.8% by year-end is well in reach and even surpassable. Price levels continue to be stable given several gasoline price cuts but still highlights weak recovery in retail consumption.