South Africa's Q2 2024 GDP grew 0.4% after a 0.1% contraction in Q1, led by finance, manufacturing, trade, and electricity supply.
South Africa's GDP grew by 0.4% in Q2 2024, rebounding from a 0.1% contraction in Q1. Key sectors contributing to this growth included finance, manufacturing, trade, and electricity supply, with household consumption rising by 1.4%. Despite avoiding a recession, overall growth fell short of expectations. Economists stress the need for higher growth to combat ongoing challenges like poverty and unemployment, while the government aims for improved economic conditions.
September 02, 2024
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