Negative growth for OECS in 2010

The Eastern Caribbean Central Bank (ECCB) says the member countries of the Eastern Caribbean Currency Union (ECCU) recorded a second consecutive year of negative growth in 2010.

The communique issued at the end of the Monetary Council of the ECCB here over the last weekend, noted that last year the ECCU recorded a negative growth of 1.8 per cent as compared with 5.4 per cent the previous year.

The communique noted that many sectors including construction, wholesale and retail and financial services continued to decline, albeit at a slower rate than in the previous year.

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4 Comments

  1. Yes I
    July 19, 2011

    We need answers from Skerrit. But that is very strange. I thought we were doing exceptionally well until I saw this report. Skerrit we need an explanation. Or rather Tony. Which one of you PMs want to ans that one.

  2. July 19, 2011

    IF THIS IS SO , HOW COMES SKERRIT SAID LAST YEAR THAT DOMINICA WAS DOING SO WELL EVEN WHEN OTHER COUNTRIES WERE DOING BAD?/ ISN’T Da IN THE OECS??
    EXPLAIN THIS TO US SKERRIT , BECAUSE SOMEONE IS A LIAR HERE!OR DOES NOT KNOW ABOUT ECONOMICS.

    • ha ha
      July 19, 2011

      Dominica did very very well but when you add all the other countries performances the OVERALL figure shows negative..

    • Go do your homework
      July 19, 2011

      It would not be unusual for a country in the OECS to experience positive growth, while collectively the OECS experiences negative growth. This however does not determine whether or not someone is a liar – the statistics of the previous years (available on the ECCB’s website) could help determine that.

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