The business activity index grew in Armenia by 6.3% and 28.3% in Q1 2011 compared to Q1 and Q4 2010 respectively, according to the Central Bank of Armenia (CBA).

Besides, CBA reported that the business environment index decreased by 4% and 5.8% in Q1 2011 compared to Q1 and Q4 2010 respectively. The consumer confidence index dropped by 1% and 2.4% in Q1 2011 compared to Q1 and Q4 2010 respectively.