Pacific Economic Monitor
Pacific growth softening. Economic growth i n the Pacific moderated t o 7.3 % i n 2012, from a post - c risi s hi gh of 8.3% recorde d i n the previ ous year. This regional trend was driven primarily by the performance of the region’s larger, natural resource–extracting , economies. Growth slowed slightly, but remained high in Papua New Guinea (PNG ) and Timor - Leste. Economi c growth i n the Pacificislands also moderated t o 2. 5% i n 20 1 2, from 2.8% a year ago. Growth in Solomon Islands moderated from double - digit rates as log revenues leveled off . Economic stimul us from infrastructure projects was lower in Kiribati, the Federated States of Micronesia, Samoa, and Tonga.