GROWTH SLUMP: SA economy grew just 0.5% in Q1 before detonation of Iran War impact
Nine out of 10 sectors grew during the quarter, lead by agriculture which sprouted 3.9%. But the eight other sectors that grew all expanded by less than 1.0%, while manufacturing output declined 0.8% – its second consecutive quarterly contraction.
South Africa's economy experienced a significant slowdown in the first quarter, with a growth rate of only 0.5%. While most sectors saw an increase, their expansion was minimal, with agriculture being the strongest performer at 3.9%. However, the manufacturing sector contracted by 0.8%, marking its second consecutive quarterly decline.
This economic slump occurred just before the potential impact of geopolitical events, raising concerns about future economic stability and growth.
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