Economics
S. Africa GDP Far From Pre-Covid Levels Even as Recession Ends
- Third-quarter GDP grew annualized 66.1% from prior 3 months
- Economy still contracted 6% from the same period last year
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South Africa’s economy may only get back to pre-Covid 19 levels by 2025 and remains vulnerable to a local resurgence of the pandemic, even after exiting its longest recession in 28 years.
Gross domestic product expanded an annualized 66.1% in the three months through September from the previous quarter following a 51.7% decline in the second quarter, Statistics South Africa said Tuesday in the capital, Pretoria. That was more than projected and the first positive number after four periods of contraction.