19 Sep 2016

Government focus on reviving public sector

First quarter GDP was reported to be 7.1%, somewhat lower than expectations.  Strong contributions from Manufacturing (9.1%), Services (9.6%) and Community, Social and Personal expenditure (12.3%) were offset by weak numbers in Mining (-0.4%), Construction (1.5%) and Agriculture (1.8%). Growth of 18.8% in gross fixed capital formation reflects the government’s focus on reviving public sector investment. Subsequently, July’s IIP contraction of 2.4% reflected the weak Mining sector as well as continued weakness in the Capital Goods sector.

No comments:

Post a Comment