A moderate recovery of the South African economy avoids technical recession during Q1-2023; progress seen in increasing electricity generation capacity

SOUTH AFRICA - Report 06 Jun 2023 by Iraj Abedian

Real quarterly GDP grew by 0.4% in the first quarter of 2023. This was following a contraction of 1.1% q/q during Q4-2022 and an expansion of 1.8% q/q during the third quarter of 2022. Indeed, today’s GDP print showcases that the South African economy has reverted to pre-pandemic anemic growth patterns following the robust post Covid-19 recovery, while at the same time the deceleration in growth is being exacerbated by the overall muted global economic activity and the country’s own electricity supply shortages. Though South Africa’s economy recovered to levels before the pandemic during Q1-2022, it peaked during Q3-2022 with real GDP of R1 161 billion, and was lower at R1 152 billion during the first quarter of 2023.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This report is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This report is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this report or its contents.