Finweek English Edition - - THE WEEK -

The econ­omy grew by a mere 0.2% quar­ter-on-quar­ter (q/q) in the three months to end Septem­ber, sub­stan­tially be­low the sec­ond quar­ter’s 3.5% and mar­ket ex­pec­ta­tions of 0.6%. This was driven in part by a 3.2% q/q de­cline in man­u­fac­tur­ing ac­tiv­ity and a 2.1% drop in re­tail sales. Over the past year, GDP in­creased by a mere 0.7%, and has av­er­aged growth of only 0.8% over the past four quar­ters, ac­cord­ing to Stan­lib. “The lat­est GDP growth data con­firms that the South African econ­omy has lost mo­men­tum over the past two years and still re­mains at risk of slip­ping into re­ces­sion,” Stan­lib said.

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