Sluggish activity

Coincident Indicator sees 76 percent contraction in yearly growth

The Coincident Indicator, an index of economic activity formulated by the Central Bank, averaged 255.7 in 2011, up by around 2.5 percent from the average recorded for the previous year.

The indicator, which is an average of eight weighted economic indicators, saw a yearly growth of 10.5 percent in 2010 and of 13.8 percent in 2009.

The indicator marked 265.5 points in December 2011, compared to 255.5 in the same month a year before. The indicator reached an all-time high of 269.9 in April 2011 (since its inception in 1993).