IMPROVING LIVES THROUGH DATA ECOSYSTEMS

Real quarterly GDP increases by 4,9 percent in the second quarter of 2008 following an increase of 2,1 percent in the first quarter of 2008.

The seasonally adjusted real GDP at market prices for the second quarter of 2008, compared with the first quarter of 2008, increased by an annualised rate of 4,9 percent. The corresponding increases for the respective quarters of 2007 were 5,5 percent (revised from 5,1 percent), 4,0 percent (revised from 4,4 percent), 4,6 percent (revised from 4,8 percent) and 5,1 percent (revised from 5,3 percent), yielding an annual growth rate of 5,1 percent in real GDP at market prices.

The main contributors to the increase in economic activity for the second quarter of 2008 were the manufacturing industry (2,3 percentage points), the mining and quarrying industry (0,8 of a percentage point), the finance, real estate and business services and agriculture, forestry and fishing industries (each contributing 0,5 of a percentage point) and the construction and the transport, storage and communication industries (each contributing 0,4 of a percentage point)

The seasonally adjusted real annualised value added by the non-agricultural industries (excluding the impact of the volatile agriculture industry) for the second quarter of 2008 increased by 4,7 percent. The seasonally adjusted real annualised value added by primary, secondary and tertiary industries recorded increases of 16,9 percent; 12,3 percent and 1,4 percent, respectively.

The unadjusted real GDP at market prices increased by 4,0 percent and 4,5 percent during the first and second quarters of 2008, compared with the first and second quarters of 2007, respectively. The corresponding increases for the respective quarters of 2007 were 5,9 percent (revised from 5,8 percent), 5,1 percent, 5,1 percent (revised from 5,2 percent) and 4,5 percent (revised from 4,6 percent). The estimate of GDP for the first six months of 2008 compared with the corresponding period in 2007, is 4,2 percent.

The GDP estimates are preliminary, and may routinely be revised.