Central Africa’s economic bloc revises down growth forecast

(Reuters) – Central Africa’s six-nation Economic Community of Central African States (CEMAC) economic bloc will see economic growth of about 4.8 percent this year, the regional central bank said in a forecast that is slightly down from a July estimate of 5.2 percent.

The bank noted a slowdown of global economic growth in the second quarter but it did not specifically link it to the revision of its outlook, which was issued over the weekend after the monetary policy board met last week.

The central bank, known as BEAC, also slightly revised its inflation estimate for the year, increasing it to 2.2 percent.

The zone includes Cameroon, Gabon, Equatorial Guinea, Chad, Congo Republic and Central Africa Republic.

The bank said CEMAC’s economy would be supported by oil and gas production, as well as increased activity in the service sector, construction and public works in these nations.