
The third quarter saw a 0.3% contraction in South Africa’s Gross Domestic Product, reversing the same margin of increase seen in the second quarter.
This was mostly caused by a nearly 29% decline in the fishery, forestry, and agricultural sectors during that time.
“Four industries recorded negative growth between the second and third quarters of 2024. The agriculture industry was the largest negative contributor, decreasing by 28,8% and contributing -0,7 of a percentage point to the negative GDP growth. The transport industry decreased by 1,6%, contributing -0,1 of a percentage point. The finance industry was the largest positive contributor, increasing by 1,3% and contributing 0,3 of a percentage point” said StatsSA
🧵 #ZAeconomy || South Africa’s economy contracted by 0,3% in Q3:2024.
— Stats SA (@StatsSA) December 3, 2024
#StatsSA #ZAGDP #GovZAupdates pic.twitter.com/5meM01bheB
To unpack the latest figures Kaya Biz with Gugulethu Mfuphi spoke to Joe De Beer – DDG responsible for economic statistics at STATS SA.
Listen to the full conversation here:
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