On a year-on-year basis, the manufacturing sector grew by 1.4 percent in the third quarter, similar to 1.5 percent expansion in the previous quarter. Growth in this sector was supported primarily by the biomedical manufacturing and electronic clusters.
The construction sector grew by 1.4 percent, significantly slowing from a 4.1 percent growth in the second quarter, mainly due to weaker private sector construction activities.
The services producing industries grew by 2.9 percent, slightly higher than 2.8 percent growth in the preceding quarter. The expansion was supported primarily by the finance and insurance and business services sectors.
On a quarter-on-quarter seasonally adjusted annualized basis, the GDP expanded by 1.2 percent, a reversal from 0.1 percent contraction in the previous quarter.