Summary

Find out more about September 2026 Quarterly Bulletin.

Related Links
September 2026 Quarterly Bulletin
30 September 2026 | Media Release
 

BANK OF NAMIBIA RELEASES THE SEPTEMBER 2026 QUARTERLY BULLETIN
___________________________________________________________________
 
DOMESTIC ECONOMIC ACTIVITY GAINED FURTHER MOMENTUM DURING THE SECOND QUARTER OF 2026. 
 

International economic and financial developments
 
  1. Global GDP growth edged marginally lower in the second quarter of 2026, due to subdued economic activity in the US and China. Global growth as proxied by year-on-year real GDP growth of the G-20 inched lower to 3.1 percent in the second quarter of 2026, down from 3.3 percent in the preceding quarter. In the United States, real GDP growth slowed to 2.2 percent in the second quarter of 2026, from 2.7 percent in the previous quarter, due to flat government spending and stronger import growth, which weighed on net exports. In contrast the Euro Area, United Kingdom and Japan recorded positive growth during the second quarter of 2026. Among the Emerging Market and Developing Economies (EMDEs), economic activity was mixed during the second quarter of 2026, with upticks in growth in Brazil and Russia but slowdowns in China and South Africa. Looking ahead, the global economy is expected to record subdued growth in 2026 before recovering in 2027, with significant downside risks stemming from the conflicts in the Middle East.
 
Global inflation picked up in the second quarter of 2026, prompting a number of central banks to start raising interest rates in order to curtail second-round inflation effects. The conflicts in the Middle East resulted in strong increases in energy prices and higher inflation across most countries, with the global average headline inflation rate accelerating from 4.1 percent in the first quarter to 4.7 percent in the second quarter of 2026. Accordingly, the monetary policy of most of the monitored central banks, that was previously following an easing trajectory, paused in the second quarter and in some instances switched to tightening; this was followed by more tightening in the third quarter.

Download Media Release (PDF)
Return to Home Back to top