Venezuela’s central bank (BCV) first-quarter GDP report shows an accelerating recovery: GDP grew 4.5% over its first-quarter 2010 level.  For a closer look at the most recent quarter, we need seasonally adjusted data so we can compare it to the quarter just before it.  The central bank’s seasonally-adjusted series ends the third quarter of 2010, but we can estimate it more recently, using the same adjustment that the BCV uses.   Two methods are shown here: first, a simple adjustment of the official, unadjusted GDP series, and second, the sum of the adjusted industry-specific GDP levels. The figure below shows the results of these estimates: first quarter GDP grew by either 9.8% or 9.6% on an annualized basis, depending on which adjustment method we use.

ladb-2011-06-06a-ge

For more on Venezuela's GDP, check out the latest Latin America Data Byte.

Site Maintenance

"The CEPR website currently takes longer to load than usual. We hope to have this and other issues addressed shortly. While this much needed site maintenance is taking place, our content is still available so please continue to slooowwwly surf the pages of our site. Thank you for your patience."