Higher oil and manufacturing revenues helped to offset the decline in Bahrain’s services sector in the second quarter of this year. What’s more, although the country’s GDP grew by only 0.8% y/y in Q2 (down from 1.8% y/y in Q1), it has performed better than anticipated. Accordingly, we now expect Bahrain’s output to grow by 2% in 2011 – our previous forecast was 0%.
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