SA GDP grew more than expected in second quarter

The South African economy grew despite the impact of rolling blackouts and high interest rates, but consumers are still spending less.

On the other hand, construction declined by 0.4%, trade, catering and accommodation by 0.4%, electricity, gas and water by 0.8% and transport storage and communication by 1.9%.Manufacturing production expanded by 2.2%, driven mainly by petroleum, chemical products, rubber, and plastic products.

The finance industry grew by 0.7%, thanks to financial intermediation, insurance, and real estate services. The personal services industry saw growth, particularly in education and health, while the increase in general government services was primarily due to a rise in staff numbers.Industries that experienced decreased activity

The construction industry, after maintaining stability for 18 months, lost momentum due to declining economic activity in non-residential and residential building projects. This was complemented by rising sales of locally produced electric motors, generators, and special-purpose machinery.

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