Venezuela Quarterly GDP Rises 4.5%, Fastest Pace Since 2008
This article is for subscribers only.
Venezuela’s gross domestic product expanded at the quickest pace in almost three years in the first quarter as government spending backed by higher oil prices helped the economy emerge from Latin America’s longest recession faster than expected.
The country’s GDP rose 4.5 percent in the first three months of the year from the same period in 2010, the central bank said today in an e-mailed statement. Growth was more than twice as fast as the 1.7 percent median estimate of eight economists surveyed by Bloomberg.