GDP sees third quarter spike as lockdown restrictions eased
The South African economy expanded by a seasonally adjusted and annualised rate of 66.1% in the third quarter of 2020 as lockdown restrictions ease.
This comes after a revised Gross Domestic Product (GDP) contraction of 51.7% in September.
The country’s economy is still recovering from months of limited activity, but the gradual reopening of industries has seen the economy rebounding.
Stats SA released the latest GDP figures at its headquarters in Pretoria on Tuesday.
Statistician-general Risenga Maluleke said all three economic sectors grew in the third quarter.
The mining industry recorded the highest growth rate for the primary sector.
In the secondary sector, manufacturing recorded the highest growth rate and trade recorded the highest growth rate in the tertiary sector.
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GDP sees third quarter spike as lockdown restrictions eased by Nokukhanya Mntambo on Scribd
