Santo Domingo.- Dominican Republic’s economy grew 1.0% in the first quarter, dipping from the same year ago period’s 5.7% growth, said Central banker Héctor Valdez Albizu on Thursday.

He said the fall is the result of "unfavorable" external conditions. "In synthesis, the results of the economy in the first quarter indicate to us that 54% of the economic activities had a positive behavior, whereas the remaining 46% underwent a noticeable decrease."

The official, speaking in an activity of the Dominican Exporters Association (ADOEXPO), affirmed that communications, agribusiness, energy and water, education, health, housing rentals, among other sectors posted strong growth.

In that regard, Dominican Telecom Institute president Jose Rafael Vargas yesterday said that sector posted a first quarter growth of 21.4 percent.

Valdez Albizu also said the accumulated inflation rate in the first quarter was 0.89%, compared with the 2.79 % in the same 2008 period.

DominicanToday.com, 5 June 2009
http://www.dominicantoday.com/dr/economy/2009/6/5/32206/Dominican-economy-posts-10-1Q-growth-prices-climb-089