Trinidad Central Bank revises 2013 growth down to 1.5%

Just two weeks before the New Year, the Central Bank has revised its overall economic growth projection for 2013 to 1.5 per cent, down from the 2.5 per cent it had maintained in May.
The Trinidad and Tobago economy grew 1.3 per cent in the first nine months of 2013, compared to 0.3 per cent for the same period last year, Central Bank data showed.
The overall projection for 2013 is 1.5 per cent economic growth.
In January, the bank had projected 2.5 per cent economic growth for 2013; the International Monetary Fund (IMF) in March projected 1.5 per cent. At its Monetary Policy Report for April 2013 yesterday, the Bank maintained its 2.5 per cent outlook based on projected growth in energy output by 1.8 per cent.