YEREVAN, October 1. / ARKA /. Armenia’s economic activity index in the third quarter of 2012 advanced by 2.9 percent from a year earlier, the Central Bank of Armenia said today, explaining that the growth was secured by rise in industrial output and services. It said when compared with the previous quarter this year the index rose by 0.6 percent.

The Central Bank said also the highest activity was reported by services, which rose by 10.2%, while the industrial sector saw a 2.9 percent rise compared to the same time span last year.
Furthermore, when compared to the third quarter of 2011 business environment index in the third quarter of this year increased by 8.8%. It was said to have improved in all sectors, except for construction.

Armenia’s economic activity index is designed to gauge overall current and future economic activity and inflation pressures. Business environment index is calculated by averaging the expectations of companies about changes in the general economic situation and risks. The Central Bank of Armenia has been conducting quarterly surveys of non-financial, financial institutions and households to assess changes in the current economic conditions compared to the previous period, to assess the economic expectations and to calculate and publish a composite economic index based on survey results. -0-