Armenia's economy shrunk by 15.7 per cent over January-May this year

PanARMENIAN.Net - Armenia's GDP reduced by 15.7 per cent in January-May this year compared to the same period of previous year and amounted 839 billion 356.6 million AMD. The reduction was only 9.7 per cent for the first 4 month of 2009, the RA National Statistical Service reports.



The sharpest decline, equial to 56.1 per cent was recoded in the construction industry, the industrial production decreased by 10.5 per cent, agriculture deceased by 2.9 percent, services reduced by 1.7 per cent. Simultaneousely, retail trade increased by 0.2 per cent. 2.5 per cent inflation was recorded in January - May in Armenia as compared to the same period of previous year. Consumer prices grew by 5.5 per cent over January- May as compared to December, 2008 level.