SA economy sees 1.5% growth but GDP shrinks by 7%
South Africa’s economy grew by 1.5 % in the last three months of last year.
It's a 6.3% growth on a seasonally adjusted annualised basis.
But the country's GDP still shrunk by 7% in 2020, compared to a growth of 0.2% the previous year.
It's the biggest decline in a century.
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In terms of the quarter four expansion, Stats SA says eight of the ten industries made positive gains.
Manufacturing and trade were among the biggest contributors to Q4 growth.
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— Stats SA (@StatsSA) March 9, 2021
The South Africa #economy grew by 1,5% in Q4:2020, giving an annualised growth rate of 6,3%.#StatsSA #GDP pic.twitter.com/LlTz2Nnssu
