Zuko Komisa

SA’s economy grew by 0.6% from the first to the second quarter.
The GDP of South Africa expanded by 0.6% in the second quarter of 2023 from 0.4% in the first, according to data issued by Statistics South Africa.
The industries of agriculture, manufacturing, mining, banking, and personal services among others all contributed to the slight development.
“Six industries on the supply side of the economy grew in the second quarter, with manufacturing and finance driving much of the upward momentum. On the demand side, the country benefitted from a sharp rise in investments in machinery and equipment, which included products related to renewable energy.” said StatsSA
After its GDP fell by 1.1% in the fourth quarter of 2022, South Africa’s economy expanded by 0.4% in the first quarter of 2023, avoiding a technical recession.
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Agriculture recovered strongly, increasing by 4.2% in the second quarter after declining by more than 12% in the first. According to Statistics SA, this was made possible by favorable weather, increased farming, and a boost in export demand.
Exports increased by 0,9% in Q2:2023.
— Stats SA (@StatsSA) September 5, 2023
Read more here: https://t.co/fXrLXT6TUb#StatsSA #economy #GDP pic.twitter.com/EztoykWL6n
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