Audio By Carbonatix
The country’s economy grew a provisional 5.6 per cent for the third quarter of 2019 year-on-year compared to the 7.4% recorded in the same period in 2018, the Government Statistician has said.
According to Professor Samuel Annim, Gross Domestic Product (GDP) growth rate without oil and gas for the same period was 4.6% compared to 8.5% in 2018.
He said the Agriculture sector recorded the highest growth of 5.9%, while the industry and Services sectors both expanded by 5.7%.
The Services sector remained the largest sector of the Ghanaian economy in the third quarter of 2019 with a share of 45.8% of GDP.
Industry and Agriculture had 35.7% and 18.5% share of GDP respectively.
Under the services sector, Information and Communication sub-sector grew by 5.5% in the third quarter of 2019 compared to 11.5% in the second quarter of 2019.
The real Estate also expanded by 5.6% in the third quarter up from 3.8% in the second quarter.
“There is no contraction in the growth of any of the sub-sectors within the service sector,” Prof. Annim said.
Within the industry sector, electricity sub-sector recorded 2.7%, up from negative 1.9 per cent growth recorded in the second quarter of 2019.
Mining and Quarrying sub-sector slowed to 2.2% in the third quarter of 2019 compared to 3.4% in 2019, while the manufacturing sub-sector grew by 1.2%.
Construction recorded a growth rate of 0.4% during the period compared to negative 2.1% in the second quarter.
In the agriculture sector, the crops sub-sector grew by 1.7% compared to 0.8% in the previous quarter.
Livestock sub-sector grew by 1.1%.
Forestry and logging sub-sector recorded the least growth rate of negative 0.2%.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
World Cup 2026: The Stars that were a kick away from a semi-final 16 years ago, arrive in USA not as standard-bearers
5 minutes -
Sky Train trial: $2m loss was caused by Covid-19, defence lawyers argue
17 minutes -
Petrol prices set for sharpest drop in months as fuel costs fall from June 16
23 minutes -
Vehicle pollution, a leading risk factor for death in Ghana both the children and working class
42 minutes -
GNFS intensifies fire prevention campaigns in Eastern Region
50 minutes -
Presidency cuts political appointees by 124, but compensation bill jumps 148% and staff classifications raise questions
52 minutes -
Retirees benefit from 7th health screening of Lordina Foundation
57 minutes -
Sogakope residents storm ECG office over alleged overbilling, poor service delivery
1 hour -
BoG extends registration deadline for money transfer operators
1 hour -
Esiama Market to become commercial hub of Ellembelle – Kofi Buah
1 hour -
Black Stars to depart Rhode Island for Toronto today ahead of Panama clash on Wednesday
1 hour -
Wenchi 24-Hour Market project takes shape
2 hours -
Suaman MP urges NPP members to rally behind Dr Bawumia for victory 2028
2 hours -
Auditors’ Court to be established to prosecute audit offences – Ato Forson
2 hours -
Ato Forson raises concern over public sector waste, calls for stronger internal audits
2 hours