RESEARCH

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RESEARCH

| | |

2%

3%

4%

5%

6%

7%

T2 2

01

1

T4 2

01

1

T2 2

01

2

T4 2

01

2

T2 2

01

3

T4 2

01

3

T2 2

01

4

T4 2

01

4

T2 2

01

5

T4 2

01

5

T2 2

01

6

T4 2

01

6

T2 2

01

7

T4 2

01

7

T2 2

01

8

T4 2

01

8

T1 2

01

9

T2 2

01

9

=

=

2%

3%

4%

5%

6%

7%

T2 2

01

1

T4 2

01

1

T2 2

01

2

T4 2

01

2

T2 2

01

3

T4 2

01

3

T2 2

01

4

T4 2

01

4

T2 2

01

5

T4 2

01

5

T2 2

01

6

T4 2

01

6

T2 2

01

7

T4 2

01

7

T2 2

01

8

T4 2

01

8

T1 2

01

9

T2 2

01

9

=

=

2%

3%

4%

5%

6%

7%

T2 2

01

1

T4 2

01

1

T2 2

01

2

T4 2

01

2

T2 2

01

3

T4 2

01

3

T2 2

01

4

T4 2

01

4

T2 2

01

5

T4 2

01

5

T2 2

01

6

T4 2

01

6

T2 2

01

7

T4 2

01

7

T2 2

01

8

T4 2

01

8

T1 2

01

9

T2 2

01

9

=

=

RESEARCH

| | |