Armenia’s Index Of Economic Activity Drops To 94%

YEREVAN, December 21. /ARKA/. In the fourth quarter of 2011 Armenia’s index of economic activity dropped to 94% from a year before, the Central Bank said in a statement adding also that compared with the third quarter of this year the index was 68.7%.

According to the statement, only services sector posted economic activity growth in the fourth quarter. Compared with the previous quarter this year industry and services sectors recorded a slight decline in prices and an increase in production capacities. The construction sector reported a decline in the personnel number, while the number of personnel in industrial sector saw a rise. The number of organizations that expressed willingness to make investments has reduced.

According to the statement, the index of business environment in the fourth quarter dropped to 97.3% from the same time span last year, mainly due to decline in industry and trade sectors. However, services and construction sectors have recorded improved business environment. In the services sector this improvement was accompanied by growing economic activity.

Since early 2005 the Central Bank has been conducting quarterly surveys of non-financial, financial institutions and households. The purpose is to assess changes in the current economic conditions compared to the previous period, to assess the economic expectations and to calculate and publish a compound economic index based on survey results. -0--