Thursday, June 21, 2007

Zim business leaders pssimistic about recovery

HARARE (Reuters) - Fewer than 5 percent of Zimbabwe's industrialists believe the country will recover from its deepening economic crisis in the next three years, a survey showed on Wednesday.....

The manufacturing sector contributes 15.5 percent to Zimbabwe's gross domestic product, compared with 24 percent a decade ago.....

Zimbabwe's manufacturing sector was once hailed as one of the most diversified in sub-Saharan Africa outside South Africa and contributes a third of the country's export earnings.

Output contracted by 7 percent in 2006 compared to a 3.2 growth in 2005, and is expected to register a 2 percent decline this year.

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