Real GDP contracts by 0.3% in Q2 2016
04 October 2016
Real GDP in the first half of 2016 recorded a negative growth of 0.3% unchanged from the revised negative growth in Q1 2016, but significantly lower than 3.1% real growth recorded in Q2 2015. Overall economic growth improved in the first-half of 2016 and non-mining private sector (NMPS) grew by 4.5% in Q2 2016 up from the revised growth of 4.0% in Q1 2016. Most sectors had postive growth with Trade, Hotels & Resturants, Construction and Transport & Communication growing by 6.5%, 2.6% and 6.1% in Q2 2016 up from 6.3%, 2.5% and 6.0% in Q1 2016 respectively. Economic activity in the non-mining sectors was offset by the negative growth recorded in Mining sector which grew by -23.0% in Q2 2016 down from the revised -21.4% growth in Q1 2016.