Financial News: South African Economy Expands 0.1% In Q1

South African Economy Expands 0.1% In Q1

06/03/2025 - 07:40:00 (RTTNews)

(RTTNews) - The South African economy advanced at a slower pace in the first quarter of 2025, data from Statistics South Africa showed on Tuesday.

In real terms, gross domestic product rose 0.1 percent sequentially after growing 0.4 percent in the second quarter. Further, this was the second successive quarterly growth.

Four industries recorded positive growth compared to the previous quarter. The agriculture industry advanced the most, by 15.8 percent, and the transport industry expanded by 2.4 percent. On the other hand, the manufacturing industry showed a contraction of 2.0 percent.

On the expenditure side, household final consumption rose 0.4 percent, while government consumption was 0.1 percent lower in comparison with the previous quarter. Gross fixed capital formation, or investments, declined 1.7 percent, and net foreign demand logged a negative contribution of 0.3 percent as imports grew faster than exports.

On a yearly basis, GDP expanded at a stable pace of 0.8 percent in the first quarter.

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