South Africa’s economy avoids recession as manufacturing, mining grow

September 6, 2016

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South Africa’s economy grew by its most in six quarters as the mining and manufacturing sectors reversed sharp contractions due to an uptick in exports, the statistics agency said, ending fears of a recession. Growth beat market consensus, rising by 3.3% in the second quarter of 2016, its fastest quarterly growth since the fourth quarter of 2014, after shrinking by 1.2% in the three months to March, Statistics South Africa said on Tuesday.

Category: General