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In late February, it was reported that the local economy expanded by a modest 1.4% in 2012, down from 4.9% a year earlier. Having picked up steam in the last few months of 2012 with a gross domestic product (GDP) growth of 2.5% in the fourth quarter, the local economy benefitted from an uptick in activity in China and slightly improved external conditions.
Source : Cushman & Wakefield
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