The Namibia Statistics Agency has released the 3rd Quarter GDP, Wage Index and the Producer Price Index today, which reveals that the domestic economy slid into a deeper recession, recording a contraction of 10.5 percent during the third quarter of 2020 compared to a decline of 2.1 percent recorded in the corresponding quarter of 2019. Year-on-year, real GDP stood at N$ 32.1 billion in the third quarter of 2020. Poor performance of Q3 was observed across major sectors of the economy, with Hotels and Restaurants registering the worst performance declining by 54.9 percent in real value.