Mining sector still mired in recession
Thursday, November 18, 2010
The manufacturing and transport and storage out of economic retreat, according to figures from the Central Bank of Venezuela.

The communications industry remains unbeaten, without falling. In contrast, the mining sector continues with an intensive retreat, which began in 2008, according to the figures of Gross Domestic Product (GDP), released by the Central Bank of Venezuela (BCV).

In 2008, the sector recorded a 4.2% withdrawal, which deepened in 2009 with a fall of 11.2%, the most marked of all economic sectors. In the first half of 2010, mining shrank 14% while in the third quarter fell 10.6%.

In this area of great importance to Guyana is considered the activities of the mining industries of the region, production decline for eight consecutive quarters.

The construction sector deepened its decline, in fact, was the only one with a contraction than in previous quarters. After a retreat of 7.2% and 5.1% in the first and second quarters, respectively, the branch fell 7.9% in the third quarter.

The president of the Chamber of Construction of Bolivar state, Daniel Irureta said recently that the union had little expectation of recovery. As national spokesperson, argued that a massive housing plan would help to reverse the recessionary trend.

The construction sector experienced in the fourth quarter of 2009, a decline of 3.5%. However, the performance of the first of the year, allowed him to close in positive last year.

The contraction in the trade sector was also lower than previous quarters. Between July and September, the retreat was 4.4%.

Blue sectors
Both the transport and storage sector, as manufacturing had blue numbers in the third quarter. The first, which experienced five quarters of decline, rose 2.7%.

Manufacturing, meanwhile, increased its activity by 0.1% after six quarters of retreat. (MRC)