Central Bankquote s serendipity

The Industries sector, which accounts for over a quarter of the island quote s GDP, contracted by over one percent in the second quarter according to the latest Central Bank data.



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rnIndustries were hard hid by both lack of demand in the international markets and problems at home like the power-cuts. rn

rnldblquote Industrial sector contracted by 1.1% and in factory industry, we see a small improvement in the monthly data but overall a con of 3.

5% partly due to the global situation, dblquote says Anila Dias Bandaranaike of the Central Bankrnldblquote With rains not being up to expectations the value added will be lower because the most of the power generated will be thermal.

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rnAgriculture and the Services sectors put in a robust performance growing by 3.2 and 3.9 percent in the second quarter.

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rnThis up turn pushed GDP growth to 1.4 percent in the first half of the year.

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rnEconomic analysts say that export and Import trade will have a large bearing on the performance of the economy