SA’s GDP contracts 1.5% in third quarter
Trade and manufacturing sectors were the biggest contributors to the overall decline that was worse than economists had expected
The hit to SA’s GDP during the third quarter of 2021 was worse than expected as civil unrest and tougher lockdown restrictions during the pandemic’s third wave eroded the gains made by the country’s economic recovery.
Though the decline may not be enough to derail economists’ expectations for full-year growth in the region of just less than 5%, factors such as how the Omicron-driven fourth wave of the pandemic plays out and electricity supply constraints cloud the outlook. ..