South Africa’s economy grew by 0.6% in Q4 2024, preventing a recession after a contraction in the previous quarter. Positive contributions came from agriculture, finance, and trade, with an annual GDP rise of 0.9%.
In the fourth quarter of 2024, South Africa’s economy demonstrated growth of 0.6%, rebounding from a revised contraction of 0.1% in the previous quarter. Despite this growth being lower than the anticipated 0.9%, it was sufficient to avert a recession for the nation. Key sectors contributing to this positive performance included agriculture, finance, and trade.
In summary, South Africa’s economy managed to achieve a slight growth of 0.6% in the last quarter of 2024, following a contraction in the prior quarter. This growth, driven primarily by the agriculture, finance, and trade sectors, helped the country avoid entering a recession and shows a resilience in economic activity over the year.
Original Source: www.tradingview.com
