Analysts predict GDP picking up, current account deficit widening in 2002

Gross domestic product (GDP) growth is seen picking up this year, to reach 1.4% from last year's 1.1%, a monthly Reuters poll of 15 analysts showed yesterday. The analysts forecast the current account deficit will widen to $7.8 billion in 2002 from $7.0 billion last year, with the January current account gap seen at $590 million, compared to a $460 million shortfall in December. The analysts also expect exports, counted by banking flows, to rise 4.2% this year, against a 7.2% increase in 2001. Imports are seen growing 3.5% in all of 2002, compared to a 1.3% rise in 2001. Industrial production is expected to rise by an average of 1.4% in all of 2002, but the analysts expect January's year-on-year output to have fallen 1.4% compared to a 4.8% annual drop in December. (Reuters)