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05 Dec 2018, Gergana Bencheva, EMIS Editor

Recession of South Africa’s economy ends in Q3 2018

South Africa’s economy put recession behind in the third quarter of 2018 as gross domestic product (GDP) grew by 2.2% quarter-on-quarter, in seasonally adjusted and annualised terms, CEEMarketWatch reported citing data released by the country’s statistics office. In comparison, the African country’s economy contracted by 0.4% quarter-on-quarter in the second quarter of 2018 and by 2.6% in the first quarter.

Over the third quarter of the year, South Africa’s unadjusted GDP went up by 1.1% on the year. For the first nine months of 2018, the increase was by 0.8% on an annual basis.

The sectors that contributed the most to the recovery in the third quarter of 2018 were manufacturing, transport, finance and real estate and trade and catering. Yet, construction and mining still booked a slight contraction between July and September, CEEMarketWatch noted.

Sign in and read the full article in emis.com, and find out more about EMIS. Original source: CEEMarketWatch - Daily News