Ghana?s economy slowed down in the third quarter of last year indicating that the overall Provisional GDP of 7.4 percent might be missed.

According to the Ghana Statistical Service, the economy grew at a rate of 0.3 percent between July and August 2013 compared to 6.1 percent during the second quarter of the year.

The manufacturing, mining and transport sub sectors were the major contributors to the poor growth during the third quarter of the year.

The services sector however recorded the highest growth rate of 6.7 percent during the period while agriculture and industry sectors recorded negative growths.

Acting Head of Economics Statistics Edward Asuo Afram explained that the dismal third quarter performance cannot necessarily bring down the growth rate.

Meanwhile, the size of the economy stood at 24.9 billion Ghana Cedis at the end of September last year. Without oil, the size of the economy stood at 23.2 billion Ghana Cedis

 

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