Business News

SA economy grows by 3.1% in second quarter

SABC News Statistics - SA economy grows by 3.1% in second quarter

South Africa has avoided a technical recession after Statistics South Africa (Stats SA) said the country economy grew by 3.1% in the second quarter.

Stats SA says this follows a revised 3.3% contraction in the first three months of the year.

Economists polled by Reuters had predicted an expansion of 2.4% quarter-on-quarter. Year-on year Gross Domestic Product growth was 0.9% compared with zero previously.

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