South Africa economy grows for fourth consecutive quarter

7
Pretoria

South Africa recorded a fourth consecutive quarter of economic growth between April and June, the national statistics agency said Tuesday, while warning the current quarter could be less rosy because of violent looting The continent’s most industrialised country saw its gross domestic product (GDP) rise by 1.2 percent in the second quarter of 2021, following a 1 percent increase in the first quarter over the October to December 2020 period.

“Despite the gains made… the economy is 1.4 percent smaller” than before the coronavirus pandemic, Statistics South Africa announced in a statement.

GDP plunged when authorities implemented a first hard lockdown in March last year, closing borders and shutting non-essential businesses for over a month.—AFP

Previous articleAgriculture chemicals imports grew by 51.87pc
Next articlePunjab Revenue Dept collects Rs 62.017b