Mauritian economic growth slowed markedly in the fourth quarter, data from the Central Statistics Office showed Friday. At the same time, it lowered the gross domestic product forecast for 2012.
The GDP rose 2.4 percent year-on-year in the fourth quarter of 2011. This was the weakest rate of increase since the second quarter of 2010. The third quarter GDP growth rate was revised up to 3.9 percent from 3.7 percent estimated in December.
During the fourth quarter, total final consumption expenditure increased 2.1 percent, slower than the 2.4 percent growth registered in the third quarter. Household spending grew 2.7 percent while that of general government declined 0.9 percent.
On the other hand, investment growth accelerated sharply to 12.9 percent during the fourth quarter from 2.6 percent in the previous quarter.
The statistical office said that it now expects GDP to grow by around 3.6 percent in 2012, slower than the December forecast of 4 percent. In 2011, the economy grew 4 percent. Private sector investment is forecast to decline this year and manufacturing growth is expected to ease.
Contribution from export oriented enterprises will also moderate with the output growth slowing to 0.5 percent from 8.4 percent in 2011.
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