Economic Growth Rate Quickens, Though Not By Nearly Enough

6 Days(s) Ago    👁 83
economic growth rate quickens though not by nearly enough

Statistics South Africa recorded growth of 0.8 in quarter-on-quarter terms, better than economists predictions for an expansion of 0.5.

There was a broad-based improvement from the first quarter, when growth of 0.1 was recorded, as eight of the 10 sectors tracked by the statistics agency registered higher output, including mining and agriculture. Household consumption picked up, helped by interest rate cuts by the countrys central bank.

But analysts said a continued contraction in gross fixed capital formation was worrying, adding much higher investment was needed for the growth rate to be sustainably stronger.

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