South Africa’s economic growth decelerates to 2% in 2022

SOUTH AFRICA - Report 08 Mar 2023 by Iraj Abedian

Real GDP figures released by Statistics South Africa (Stats SA) yesterday indicate that South Africa’s economy contracted during the final quarter of 2022 following a rallying of 1.8% q/q during the third quarter. During the fourth quarter of 2022, real GDP recorded a growth rate of -1.3% q/q, largely a consequence of rolling electricity cuts that had intensified. The Q4 2022 contraction is the third recorded since the economy’s recovery from the Covid-19-induced economic crisis, and the second largest after that caused by the July 2021 civil unrest in Q3 2021. The final quarter’s GDP outcome also surprised on the downside as expectations were largely around -0.4% to -0.5%.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This report is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This report is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this report or its contents.