Top listeners:

skip_previous skip_next
00:00 00:00
playlist_play chevron_left

Business / Economics

South Africa’s Economy Contracts in Q1 of This Year

todayJune 5, 2024 8

share close

South Africa’s economy recorded a slight contraction in the first quarter of 2024, impacted by a decline in the mining and construction sectors, according to data from the statistics agency on Tuesday as reported by Reuters. Gross domestic product shrank by 0.1% quarter-on-quarter in seasonally adjusted terms, contrary to economists’ expectations of 0.1% growth. On a year-on-year basis, the economy grew by 0.5%, slightly below the predicted 0.6% growth.

Written by: Leonard Witbeen

Rate it

Post comments (0)

Leave a reply

Your email address will not be published. Required fields are marked *