IMPROVING LIVES THROUGH DATA ECOSYSTEMS

Real quarterly gross domestic product (GDP) increases in the fourth quarter of 2009

The seasonally adjusted real GDP at market prices for the fourth quarter of 2009 increased by an annualised rate of 3,2 per cent compared with the third quarter of 2009. The corresponding real annualised economic growth rates for the first three quarters of 2009 decreased by 7,4 per cent, 2,8 per cent and increased by 0,9 per cent respectively.

The main contributors to the increase in economic activity for the fourth quarter of 2009 were the manufacturing industry (contributing 1,5 percentage points), the general government services (contributing 1,0 percentage point); the mining and quarrying industry, the transport, storage and communication industry, finance, real estate and business services and personal services (each contributing 0,2 of a percentage point) and the construction industry (contributing 0,1 of a percentage point). Negative contributions by other industries included the wholesale, retail, motor trade and accommodation (contributing -0,1 of a percentage point) and the agriculture, forestry and fishing industry (contributing -0,2 of a percentage point).

The unadjusted GDP at market prices recorded decreases of 0,7 per cent (revised from a decrease of 0,8 per cent), 2,7 per cent (revised from a decrease of 2,6 per cent), 2,2 per cent (revised from a decrease of 2,1 per cent) and 1,4 per cent during the first, second, third and fourth quarters of 2009 compared with the four quarters of
2008 respectively.

Real annual GDP decreased by 1,8 per cent in 2009

First preliminary annual estimates of gross domestic product (GDP) are derived as the sum of the GDP for the four quarters of the specific year. These estimates indicate that the real annual GDP at market prices for 2009, decreased by 1,8 per cent compared with 2008 when the real annual economic growth rate was 3,7 per cent.

The main contributors to the decrease in economic activity in 2009 were the manufacturing industry (contributing -1,8 percentage points), the mining and quarrying industry (contributing -0,4 of a percentage point), the wholesale, retail, motor trade and accommodation industry (contributing -0,3 of a percentage point) and the agriculture, forestry and fishing industry (contributing -0,1 of a percentage point). Positive contributions by other industries included general government services (0,5 of a percentage point), finance, real estate and business services (0,3 of a percentage point), the construction industry (0,2 of a percentage point) and personal services
(0,1 of a percentage point).