Unpacking the GDP figures: it’s bleak
South Africa misses a recession by the skin of its teeth
07 March 2024 - 05:02
Bleak GDP figures show that though the South African economy has narrowly avoided slipping into a recession, it stagnated over the past year, posting subpar growth of just 0.6% for 2023 as a whole.
The economy grew by a below-consensus 0.1% quarter on quarter in the final quarter of last year, according to Stats SA, after having contracted by 0.2% in the third quarter. This means South Africa missed a technical recession (two quarters of negative growth) by the skin of its teeth...
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