The economy of the Islands has contacted by 4.8 per cent in the past year, according to new data from the Statistics Office. The government's economic advisor, James Webb says its mainly due to a decline in construction, financial and businerss services. But weaker tourism also played a part. However, there were encouraging signs in transport and commucations, and agriculture which both expanded a little. An increase in the production of drinkable coconuts was particularly notable.