The fastest growing sector is construction was up by 26%. Banking and insurance was the next most buoyant sector increasing output by 21%. These sectors are growing at a much faster rate than the traditional main economic engines, manufacturing and agriculture. Manufacturing was up by 3.2% in the first nine months while agricultural output was up by 5.4%.
The most buoyant bits of agriculture are chicken farming and arable farming. Banana output is up by 14%, well ahead of coffee (up 5%) and palm oil (up 3.5%). Shrimp production is falling largely because of problems caused by Hurricane Felix. Mining production fell by 5% thanks to a slump (17% decline) in gold production.
The construction sector is booming because the three big cities (Tegucigalpa, San Pedro Sula and La Ceiba) have all seen a substantial growth in the residential property market. There has also been a substantial (41%) growth in the supply of industrial property.
Inflation: The consumer price index rose by 1.2% in October.
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