Quarterly Macro-Economic Trend Analysis: January - March 2008

Theme: General

Quarterly Macro-Economic Trend Analysis: January - March 2008    |   File Size: 541.25 kB Downloads: 901   |   Post Date: 16 April 2008

The first quarter of 2008 registered negative growth rate of 1.3% compared to a growth of 7.7% in the fourth quarter of 2007. The sharp decline in growth relative to previous quarters of 2007 was largely occasioned by destruction of property and the disruption of economic activity in the key sectors of the economy including agriculture, manufacturing, tourism, transport and the banking sector in varying degrees. To this end, growth in 2008 GDP is expected to slow down with the Treasury revising GDP growth projections downwards to between 4-6%.

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