YEREVAN, July 20 /ARKA/. Armenia’s economic activity in the first five months of 2012 advanced by 7.4% as opposed to the same time span in 2011, the Central Bank of Armenia said today in a press release.

"Economic activity growth over the first five months of this year exceeded expectations because of an increase in industrial output and services by 15% and 4.6% respectively," the Bank said.
The Central Bank said also agricultural production in five months saw a 3.2% rise, while the construction sector posted an 8% decline.

The Central Bank said it believes the expected impact of economic developments on domestic prices will be more inflationary, as higher economic growth due to advanced growth of industrial and services sectors, will stimulate aggregate demand, as well as private consumption rate. -0-