Growth bottomed out at 6.8 per cent in 2008–09, the crisis year, picked up to  BIS central bankers’ speeches  1  8 per cent in 2009–10 and further to 8.5 per cent in 2010–11. Chart 3 shows two pictures of the growth trajectory.
With reference to aggregate and sectoral Gross Domestic Product (GDP) estimates, the trajectory in the graph suggests that the momentum is moderating somewhat, as the most recent quarters show decelerating year-on-year growth rates. The main contributor to this tendency is the industrial sector, which has shown relatively high volatility over the period displayed.