By Zuko Komisa
South African economy shrinks by 1.3% in the fourth quarter.
In the final quarter of 2022, South Africa’s economy shrank more than anticipated as a result of an increase in periodic power outages, which also caused the majority of industries—from mining to agriculture—to contract.
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Listen to analysis of what this means on Kaya Biz here:
The data indicates that South Africa may be entering a recession and shows the harm that the continent’s most developed economy is suffering from the worst power outages in history.
South African Gross Domestic Product (GDP) declined by 1,3% in the fourth quarter. Join #StatsSA on @radio786online as we unpack the latest #GDP figures.
— Stats SA (@StatsSA) March 7, 2023
More here: https://t.co/dE37Hez24vhttps://t.co/OGwm4auJjY#economy pic.twitter.com/avThcBvREA
The South African gross domestic product (GDP) fell by 1.3 per cent in the fourth quarter of 2022 after increasing in the third quarter.
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