Madagascar President Rajoelina to address nation on Monday evening
South African economy grows 0.1% q/q in fourth quarter
10:46 CAT | 06 Mar 2024
File photo: Reuters
South Africa’s economy grew 0.1% in the fourth quarter of 2023 in quarter-on-quarter seasonally adjusted terms, after contracting by 0.2% in the previous quarter, statistics agency data showed on Tuesday.
The economy grew 0.6% in 2023, said Statistics South Africa.
The fourth quarter growth rate was slightly lower than expectations. Economists polled by Reuters had predicted quarter-on-quarter growth of 0.3% ZAGDPN=ECI.
Africa’s most industrialised economy has stagnated over the last decade, with failures at the state-owned power utility and logistics firm among factors dragging down growth. The economy’s performance is in focus as South Africans go to the polls in May for national and provincial elections.
Source: Reuters
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