-3.6% is the decrease of the GDP rate at constant prices in the second quarter of 2020oracle
The Department of Statistics issued the preliminary results of the quarterly GDP estimates at constant prices for the second quarter of 2020. The results show a decrease by 3.6% during the second quarter of 2020 compared with the same quarter of 2019.
Preliminary estimates showed that most economic sectors recorded a decline in the second quarter of 2020 compared to the second quarter of 2019. The results indicate that the hotel and restaurant sector recorded the highest drop during this period; as it reached 13.4% then Transport, Storage & Communications Sector has decreased by 9.2%, followed by Social & Personal Services Sector by 6.4%, Construction by 6.3% and Manufacturing by 5.3%.
At the level of sectors contribution to the recorded decrease rate by 3.6% during the second quarter of 2020, the Manufacturing Sector contributed by 0.92 percentage points, Transport, Storage & Communications Sector by 0.80 percentage points of the total recorded decrease and Social & Personal Services Sector by 0.58 percentage points.