Financial Intermediation slows down
The Financial Intermediation sector expanded by 6.0 percent in the fourth quarter of 2016. This was slower than the 8.7 percent growth posted in the previous year. The performance was largely due to Banks and Non-banking financial institutions which grew by 7.2 percent and 6.0 percent, respectively.
On the other hand, Insurance decelerated to a 3.8 percent growth, while Activities Auxiliary to Financial Intermediation posted a 4.6 percent growth this quarter.