JUST IN: Economic growth slows to 3.7% in 2Q
Real gross domestic product (GDP) growth slowed to 3.7% during the second quarter (2Q), compared to 8.5% recorded in the corresponding quarter of 2022, according to the Namibia Statistics Agency.
The deceleration in growth is primarily attributed to the construction and agriculture and forestry sectors.
Real GDP was estimated at N$38.8 billion in the second quarter, an increase when compared to the N$37.4 billion registered in the second quarter of 2022.
Meanwhile, economic growth for the first quarter of 2023 was revised upwards from 5% to 5.3%.
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The deceleration in growth is primarily attributed to the construction and agriculture and forestry sectors.
Real GDP was estimated at N$38.8 billion in the second quarter, an increase when compared to the N$37.4 billion registered in the second quarter of 2022.
Meanwhile, economic growth for the first quarter of 2023 was revised upwards from 5% to 5.3%.
#MarketWatch Online #NMHNews
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