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Morocco GDP growth picks up in 3rd quarter 2011 Economy still below full-year target following a slowdown in its key mining and tourism sectors, says planning authority
Morocco's economic growth reached 4.7 per cent in the third quarter of 2011, up from the second but still below the full-year target after a slowdown as mining and tourism activity shrank, the country's planning authority said on Monday. Agricultural output rose 4.1 per cent rise after a flat third quarter of 2010, and non-agricultural GDP was up 4.9 per cent instead. Hotel and restaurant activity dropped 2.6 per cent and mining fell 1.8 per cent, the authority said. After growing by 4 per cent to around $95 billion in 2010, Morocco's gross domestic product grew 5 per cent during the first quarter of 2011 and 4.2 percent in the second, according to the central bank. The finance ministry forecast 5 per cent growth for all of 2011.
