The economy grew by 1.6% in the three months to end-September after shrinking by 0.7% in the second quarter, which was affected by the KwaZulu-Natal floods.
A technical recession is defined as two consecutive quarters of a shrinking economy, but - despite load shedding during more than half of the days in the second quarter, as well as rocketing interest rates, and food and fuel prices - South Africa avoided this by growing in the third quarter. The 1.6% growth rate was much stronger than expected. The median forecast of economists polled by Bloomberg was for growth of 0.4%.
Quarterly real GDP - R1.16 trillion - is now the highest it’s ever been, exceeding the previous peak of R1.15 trillion recorded in the fourth quarter of 2018, Stats SA said.Eight of South Africa's ten industries grew between the second and the third quarter, with agriculture, forestry and fishing surging by more than 19%."This was mainly associated with a rise in the production of field crops and horticulture products," Stats SA reported.
_Business Namanga man 😒
_Business poet_this
_Business You lying 🤥
_Business 🤣🤣🤣Ramaphosa publication this!
mpotse20 _Business That’s a miracle or somehow skewed stats.
_Business Because today it’s happening under Ramaphosa.
_Business But the people are not feeling anything
_Business CyrilRamaphosa fan base is resorting to lies.. SA economy grew? Really? You have no shame SA media..
_Business Megwete ya lena
_Business Stop lying! Business are closing right and centre. The rand is weak, there's loadshedding, everything is fvcking expensive, petrol is up there. Which growth are we talking about here?
_Business Welele mcim
_Business You all think we are stupid heh...
_Business This is good news. The other day was the employment figures that were promising
_Business 🤣🤣🤣
_Business You'll try all the tricks in the book but he must go.
_Business 😂😂😂😂
_Business Kak!! Bring the proof..
_Business Rediculous, cooked up shit in efforts to paint cyril as a messiah
_Business Ramaphosa campaign managers at work.
_Business The only reason the economy grew, is because of all the money they borrowed from other countries to help their own businesses
_Business There is no such thing as growth here it is all it is the inflation
_Business LIES
_Business How does economy grow when businesses are buying generators
_Business it’s a lie😂
_Business Lies lies lies
_Business Bullshit baffles brains… the ‘growth’ is courtesy of ‘massaged balance sheets’ whilst the real economy is kaking off left, right and center
_Business Umsebenzi wakho Mongameli uyabonakala lead us Matamela LeadUsMatamela
_Business Tsek lie
_Business Imigodoyi trying to distract us from phala phala farm gate.
_Business
_Business Lies!
MousseOFreshe _Business If CR resigned could have made things worse
_Business Trying hard to exonerate Ramadollar
_Business Tsek with your lies.
MandelaMinutes _Business Now imagine how much we would have grown with electricity
_Business Miracles never cease.
_Business Let's imagine if we had no political instabilities, in-fighting within the ruling party's political ranks, loadshedding and less corruption.
_Business proving yet again that a growing 'economy' and rand value have nothing to do with productivity and everything to do with political agendas.
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Source: News24 - 🏆 4. / 80 Read more »