Zuko Komisa

StatsSA announces that SA’s GDP has grown by 0.4%.
The first quarter of 2023 saw a 0.4% increase in the gross domestic product (GDP) of South Africa, according to statement released on Tuesday by Statistics South Africa (StatsSA).
Eight out of ten industries, including manufacturing, banking, real estate, and business services, experienced growth in the first three months of the year, according to Stats SA.
Data indicate that the manufacturing and financial sectors were the two main forces behind expansion on the supply side of the economy.
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They also indicated that finance, real estate and business services crept up by 0.6%, while personal services increased by 0.8%, driven by growth in community services.
“Eight of the ten industries recorded growth in the first three months of the year, with manufacturing and finance, real estate & business services the largest positive contributors.”
“Manufacturing output increased by 1,5%, adding 0,2 of a percentage point to GDP growth. The production of food and beverages was the main catalyst behind the industry’s positive showing.” Stats SA said in a statement.
Eight industries recorded growth in Q1:2023. #Manufacturing and #finance were largest positive contributors to growth in the first quarter. #Agriculture, forestry & fishing was the biggest drag on growth.
— Stats SA (@StatsSA) June 6, 2023
Read more here: https://t.co/1h76jkke67#StatsSA #economy #GDP pic.twitter.com/213UG1XVcb
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