Europe

The national economy is expected to grow by 0.8% in the third quarter (HCP)

During the third quarter, domestic demand should restrain investment, “in a context of continued slowdown in household consumption and”.

The national economy is expected to grow by 0.8% in the third quarter of the current year, against 8.7% a year earlier, according to the HCP. This growth would be pulled down by the agricultural value added, which would fall by 14.1%, at a time when a 2.9% increase is expected for the non-agricultural value added.

The national economy should show growth of barely 0.8% in the third quarter of the current year, against 8.7% a year earlier, according to the High Commission for Planning (HCP). This level of growth is also slightly slower than in the second quarter when it was at 0.9%. This growth would be pulled down by the agricultural value added, which would fall by 14.1%, at a time when a 2.9% increase is expected for the non-agricultural value added. During the third quarter, domestic demand remained reduced, β€œin a context of continued slowdown in household consumption and investment,” notes the HCP. For the second quarter, the agricultural value added would have fallen by 16.1%, in annual variation, instead of an increase of 17.5% during the same period of 2021.

Value added excluding agriculture would have increased by 3.6%, in annual variation, instead of +2.5% in the previous quarter. The added value of the complementary branches would have accelerated by 5% in the second quarter of 2022, contributing +2.5 points to overall economic growth. The added value of the secondary sector should have recovered by 0.8% in Q2 2022, in annual variation, after having fallen by 0.9% in the previous quarter. This recovery would have been mainly due to a 1.1% improvement in the value added of manufacturing industries, attributable to the recovery in textile activities and the firming up of pharmaceutical and rubber products. The construction sector, for its part, would have prolonged its slowdown for the third quarter in a row. Its added value would have increased by 0.7% in the second quarter of 2022, instead of an increase of 1.8% in the previous quarter.

In the second quarter, investment continued to decline. Over one year, it would have fallen by 1.3%, against an increase of 7.3% in the same period of 2021. the year, particularly in the extractive industries sector and the slowdown in construction investment”. Conversely, investment in industrial products should pick up slightly, in the wake of an increase in imports of industrial capital goods.



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