Recent Economic Developments, 120

Overview:

During the period reviewed—the second half of 2007—the rapid economic growth that has been in evidence since 2003 continued. In 2007:Q3 GDP rose by 5.6 percent, led by the expansion of business-sector product, which was up by 7.3 percent. In contrast with previous periods, domestic resource use was predominant, its increase outstripping that of GDP and leading to a rise in imports and reduction of the current account surplus.

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