Chief Minister Lyndon Trott delivers his mid-term report to the Institute of Directors yesterday. (Picture by Peter Frankland, 0935637)

GUERNSEY’S economy grew by more than 6% in 2008, according to the chief minister.

Deputy Lyndon Trott revealed the figure while giving his ‘Halfway House’ speech at the Institute of Directors lunch yesterday, when saying the States would next week publish estimates of growth for 2010 and revised estimates for 2009.

‘What they will demonstrate is that our economy went into the global crisis in much ruder health than previously thought,’ he said.

‘Growth in 2006 and 2007 has been revised upwards and provisional estimates, not forecasts, for 2008, suggest growth of more than 6% in real terms led by the double-digit growth of the finance sector.’

It was clear that the economy experienced a ‘mild contraction’ in 2009, however, he said.

‘Clearly we went into the crisis with significant positive momentum.’

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