logo
  

South Africa Economy Grows In Q4

South Africa's economy expanded in the final three months of 2021, after contracting in the previous quarter, preliminary data from Statistics South Africa showed Tuesday.

Gross domestic product grew 1.2 percent quarter-on-quarter after a 1.7 percent slump in the previous three months.

Household consumption expenditure increased 2.8 percent and state spending edged up 0.1 percent. Gross fixed capital formation rose 1.9 percent, while changes in inventories deducted 0.7 percent from total growth. Exports grew 8.5 percent and imports increased 8.9 percent.

The real GDP increased 4.9 percent in 2021 versus a 6.4 percent fall in the previous year. Growth was primarily led by higher economic activity in finance, which contributed 0.9 of a percentage point based on growth of 3.7 percent.

On a year-on-year basis, GDP rose 1.7 percent in the fourth quarter after a 2.9 percent growth in the previous three months.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Russia's manufacturing activity grew at the fastest pace in three-and-a-half years in September, supported by increases in production and new orders, survey data from S&P Global showed on Monday. The factory Purchasing Managers' Index posted 52.0 in September, up from 51.7 in August. A score above... India's manufacturing sector growth slowed moderately in September but the overall growth remained robust, survey data published by S&P Global showed on Monday. The manufacturing Purchasing Managers' Index fell to 55.1 in September from 56.2 in August. The score was also below economists' forecast... Final manufacturing Purchasing Managers' survey results from the euro area and the UK are the major reports due on Monday. At 2.30 am ET, the Federal Statistical Office is scheduled to issue Swiss consumer price data for September. Inflation is forecast to remain unchanged at 3.5 percent.
Follow RTT