Big GDP surprise for South Africa’s economy
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Joe de Beer - DDG: Responsible for economic statistics talks about Stats SA has published the latest gross domestic product numbers for the third quarter of 2022, showing surprising growth of 1.6% in the quarter.
The growth beat out market expectations by some margin – consensus among economists and analysts was that the economy would grow 0.4% for the quarter, given the heightened levels of load shedding taking place. At best, optimistic views were for 0.7%.
According to Stats SA, however, the output from the country’s various economic sectors was higher than anticipated, and the reported number is four times higher than the predictions.
The growth beat out market expectations by some margin – consensus among economists and analysts was that the economy would grow 0.4% for the quarter, given the heightened levels of load shedding taking place. At best, optimistic views were for 0.7%.
According to Stats SA, however, the output from the country’s various economic sectors was higher than anticipated, and the reported number is four times higher than the predictions.
