Seven sectors shrink in third quarter, dimming hopes of economic rebound
Kathmandu, July 7 -- The National Statistics Office says weak government spending, sluggish production and lower imports of machinery and construction materials have slowed economic activity, with annual growth projected at just 3.51 percent.
Despite expectations of a recovery in recent months, Nepal's latest economic data show that momentum remains weak, with growth declining across seven major sectors in the third quarter of the current fiscal year.
According to a report released by the National Statistics Office on Monday, agriculture, manufacturing, accommodation and food services, information and communication, financial and insurance activities, education, and other services recorded negative growth in the third quarter compared w...
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