The manufacturing sector helps lift SA out of a recession

5 December 2018

Sick and tired of living in a recession? Well, Statistics SA has good news for you. The economy grew by 2.2% in the third quarter this year, meaning that the economy is growing and the country is no longer in a recession.

The 2.2% growth in the gross domestic product (GDP) in the third quarter — July to September — equates to an annualised 1.1% improvement from a year ago. The GDP measures the total output of the economy.

The rand strengthened after Stats SA released the results on Tuesday, with economist Lukman Otunuga of FXTM said: “a vulnerable dollar is poised to complement the rand’s gains”.

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Source: 
Mail and Guardian

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