On a three-month on three-month basis, the increase was 4,0 per cent. These developments are encouraging especially when viewed against the backdrop of the appreciation in the currency. However, there is still a substantial degree of slack in the manufacturing sector. The Bank’s forecast reflects GDP growth averaging 3,6 per cent and 3,9 per cent in 2011 and 2012, respectively.
However, the regulators seem to be ready to take action if needed, as seen for SEPA credit transfers and direct debits. Conclusion The trend to harmonise and standardize services and to seek economies of scale is here to stay. Card payments, which work mostly efficiently and provide convenience and safety compared to cash, are an elementary part of this trend.