Finweek English Edition

SA ECONOMIC GROWTH 1.2%

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The SA economy grew 1.2% in the second quarter compared to the previous three months, reported Stats SA. The agricultur­e, trade and mining sectors performed well, while manufactur­ing and constructi­on fared poorly. Looking ahead, PwC economists Lullu Krugel and Dr Christie Viljoen said it is likely that the third quarter will see some pressure on the rate of recovery due to adverse effects from the unrest in KwaZulu-Natal and Gauteng in early July. While some forecasts suggest that the economy will grow by more than 4% this year, PwC’s modelling points to a figure closer to 2.5%.

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