Africa’s second largest copper producer, Zambia, growth momentum for Q3 rallied to 5% from 3.9% in Q2:18. This was contained in a statement central statistics office (CSO) in the capital Lusaka. This growth pulse reflects a 50bps higher figure than Q3:17.
Drivers of growth were the financial and insurance (FI) sectors contributing 36.6%, technology (31.6%) and the arts, entertainment and recreation industry accounting for 21%, Acting Director Census and Statistics Goodson Sinyenga said.
Zambia’s annual growth target for 2018 is 4.1%, however the world bank had revised its forecast to 3.4% factoring in headwinds experienced in the year.
December consumer price index (CPI) rose by an infinitesimal 0.1% to 7.9% (from 7.8% in Nov.) within the Bank of Zambia (BOZ) targeted band of 6-8%. This attributed to rise in cost of non-food items such as transport.
