The Trinidad and Tobago economy is yet to experience a full and steady recovery. Preliminary estimates from the Central Bank suggest that real GDP declined further by just over 3 ½ percent in the second quarter of 2012, following a relatively flat performance in the first quarter of 2012.
The contraction in output was mainly attributed to longer-than- expected plant maintenance operations carried out by energy sector companies as well as prolonged strike action at Trinidad Cement Limited. Available information for the third quarter of 2012 shows that cement supplies have normalized, while there are signs of a revival in production levels of natural gas and petrochemicals.