WINDHOEK, June 19 (Xinhua) -- Namibia's GDP recorded a contraction of 0.1 percent in the first quarter of 2018, the Namibia Statistics Agency announced on Tuesday.
The contraction was a slight improvement relative to the decline of 0.4 percent registered in the corresponding quarter of 2017, the statistics office said.
The performance was largely driven by the construction sector that posted strong growth of 23.7 percent in real value added relative to a contraction of 36.9 percent in the corresponding quarter of 2017.
Slight improvements were also observed in the "wholesale and retail trade" and "transport and communication" sectors.
The wholesale and retail trade sector posted a negative growth of 1.3 percent, indicating that demand for goods and services remain suppressed although they are showing signs of recovering, when compared to the same period of 2017.
Transport and communications registered a growth of 2.5 percent during the period under review.
Government activities dragged the performance of the economy, posting negative growth across due to fiscal consolidation by central government.
Meanwhile, real GDP growth for the fourth quarter of 2017 has also been revised downwards to -1.5 percent from a contraction of 1.0 percent previously recorded.?
