Recession Now, Muted Growth Later

BMI View: With Q310 real GDP data showing a further contraction in economic activity, we are now forecasting a second consecutive year of recession in Barbados, with growth coming in at -0.5%, down from 0.5% previously. Looking ahead, a weak domestic and external outlook will keep real GDP growth very muted, and we are projecting growth of just 1.3% in 2011 and 1.6% in 2012.

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