New figures released by the Maltese Central Bank last week revealed that the country's economy began to recover in the first quarter of this year, following three consecutive quarters of decline.
In its Quarterly Review for June, the Central Bank announced that GDP grew by 1.4% in real terms, after a decline of 2.2% in the previous quarter. The bank revealed that improved domestic demand was the main force behind this improved performance, although some increase in external demand was recorded.
The Central Bank also released the results of its business perceptions survey for the first quarter of 2002 last week, which showed something of a rebound in business sentiment. The survey revealed that there were signs that an economic recovery led by the manufacturing export sector, is just around the corner.
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