In the first half of 2006 industrial activity strengthened. The expansion of production, which involved nearly every branch of industry, was particularly robust in metal processing and engineering and among medium-sized and large companies. Activity in the construction sector continued to grow. In retail trade, the value of sales increased both for large-scale distribution and, for the first time since 2002, small and medium-sized operations.
Arrivals and overnight stays of foreign tourists at the region’s seaside resorts turned upwards after four years of decline. Exports showed vigorous growth, in line with the national average. Employment outpaced the national average.
Lending continued to expand at a rapid rate, thanks in part to the recovery of demand from construction and real-estate companies for short-term loans. The ratio of new bad debt to total lending remained in line with the end-2005 level, although an increase was recorded for consumer households. The flow of household saving went mainly to repos, government securities and equities.
