Tanzania's economic growth slows to 7.9 percent

Tanzania's economic growth slowed in the second quarter compared with the same period a year ago, hit by slowdowns in the manufacturing, construction, transport and communications sectors, data showed on Saturday. The economy grew 7.9 percent in the April-June period, year-on-year down from 10.1 percent in the second quarter of 2014, the National Bureau of Statistics (NBS) said.
The manufacturing sector, an important source of foreign exchange, slowed to 6.9 percent growth, from 10.1 percent a year before. Construction expanded by 13.2 percent versus 37.5 percent growth previously, while transport expanded 8.8 percent, down from 9.7 percent a year before. The communication sector recorded growth of 17.4 percent, compared with 18.4 percent in the second quarter of 2014. Industries that recorded faster growth include agriculture which expanded 4.2 percent in the second quarter of this year versus 3.8 percent previously. Mining and quarrying activity grew by 8.3 percent, compared with 6.4 percent a year before, due to increased gold and diamond production.