Zuko Komisa

South Africa’s GDP gained 0.4% in the second quarter of 2024, seasonally adjusted quarter on quarter, according to statistics agency figures released on Tuesday.
According to Stats SA, The banking, manufacturing, trade, and power, gas, and water supply industries were responsible for the majority of the economy’s production (supply) growth.
The second-quarter GDP climbed 0.3% year on year, contrary to economists’ expectations of 0.4% growth.
[JUST IN] The South African economy has strengthened by 0.4% in the second quarter of 2024. Stats SA says the latest economic growth was driven by seven industries including finance, real estate and business services. GM #KayaNews pic.twitter.com/kB7MynXQVa
— Kaya News (@KayaNews) September 3, 2024
“Other notable contributors include manufacturing, trade, and electricity, gas & water. Manufacturing turned positive after shrinking in the first quarter, rising by 1,1% in the second quarter. Production was mainly driven by motor vehicles & transport equipment and food & beverages.
The country experienced no load shedding in the second quarter,2 which helped the electricity, gas & water supply industry. It grew by 3,1%, driven by increased electricity generation and water distribution. If we ignore the topsy-turvy economic environment caused by the pandemic in 2020, the 3,1% growth rate represents the sharpest increase since the third quarter of 2008 (also 3,1%).” said Stats SA
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