Economic growth in Sub-Saharan Africa is recovering at a modest pace, and is projected to pick up to 2.4% in 2017 from 1.3% in 2016, according to the new Africa's Pulse, a bi-annual analysis of the state of African economies conducted by the World Bank. This is below the April forecast of 2.6%.
This rebound is led by the region's largest economies. In the second quarter of this year, Nigeria pulled out of a five-quarter recession and South Africa emerged from two consecutive quarters of negative growth. Improving global conditions, including rising energy and metals prices and increased capital inflows, have helped support the recovery in regional growth. However, the report warns that the pace of the recovery remains sluggish and will be insufficient to lift per capita income in 2017.
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