SA economy records 0.4% growth in second quarter of 2024

The South African economy is showing some resilience in the second quarter in line with analysts’ expectations.

Data released by Statistics South Africa shows that the country’s economy grew by 0.4% in the second quarter from a revised 0% in the first quarter of 2024.

In a statement, Stats SA says the finance, manufacturing, trade, and electricity, gas and water supply industries drove most of the economy’s momentum on the production side.

It adds that no load shedding experienced in the second quarter helped the electricity, gas and water supply industry.

More information in the tweet below: 

🧵 The South African #economy grew by 0,4% in the second quarter of 2024.

Read more here: https://t.co/k5ykIUc4SZ
#StatsSA #ZAGDP pic.twitter.com/eC9i9Wt5OJ

— Stats SA (@StatsSA) September 3, 2024