GDP improves in third quarter as economy opened up
It increased at a seasonally adjusted and annualised rate of 66.1% as restrictions were eased
The economy made a better than anticipated rebound in the third quarter, increasing at a seasonally adjusted and annualised rate of 66.1% as lockdown restrictions were eased.
The economy clawed its way back from the harsh decline of a revised 51.7% experienced during the second quarter, which coincided with the most severe levels of lockdown, according to data released by Stats SA on Tuesday. Stats SA annualises its quarterly GDP statistics — which assumes that the percentage change from one quarter to the following will be maintained for the entire year...