Recent Economic Developments, 95

05/11/2001
All Press Releases In Subject:
The Economy and Economic Activity

Recent Economic Developments, 95

Overview:

During April-September 2001 (the period reviewed) the recessionary trend intensified, as expressed by almost every economic indicator: after GDP had fallen in 2000:IV and recovered slightly in 2001:I, it contracted by 1.3 percent (in annual terms) in 2001:II, reflecting a slowdown in a wide range of industries. The composite index of the state of the economy declined by 4 percent in the period reviewed; goods exports (excluding ships, planes, and diamonds) were down by 11 percent from the previous six-month period; manufacturing output was 5.1 percent lower than in the preceding six-months, and commerce and services revenues were down by 2 percent in those months. Trend data on the unemployment rate indicate a 0.2 percentage-point increase in recent months, so that in August it stood at 8.9 percent.

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