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SA has bounced back slightly faster from the third-quarter unrest than expected. This has pushed the annual growth rate for 2021 to 4.9% year on year — a huge turnaround from the record 6.4% year-on-year (y/y) contraction suffered in 2020 at the height of the pandemic.

Granted, economic activity has yet to recover to the peak recorded in the second quarter of 2021 before the July civil unrest, tighter lockdown restrictions and the return of power cuts took their toll...

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