Financial News: South African Economy Shrinks 0.2%

South African Economy Shrinks 0.2%

09/08/2026 - 09:01:00 (RTTNews)

(RTTNews) - The South African economy logged a renewed contraction in the second quarter, data from Statistics South Africa showed on Tuesday.

In real terms, gross domestic product shrank 0.2 percent sequentially after a 0.4 percent increase in the fourth quarter. Economists had expected a decrease of 0.1 percent. Moreover, this was the downturn since the fourth quarter of 2024.

The expenditure breakdown showed that household final consumption expenditure increased 0.4 percent, and government consumption also rose 0.4 percent. Meanwhile, gross fixed capital formation declined 0.2 percent, and net exports contributed negatively by 1.1 percent.

On the production side, the trade industry was the largest negative contributor, decreasing by 1.9 percent, followed by the manufacturing industry with a contraction of 1.8 percent.

On a yearly basis, economic growth eased to 0.9 percent from 1.9 percent in the first quarter.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Thirty-Year Bond Auction Attracts Above Average Demand (09 hr(s), 10 min(s), 49 sec(s) ago)
(RTTNews) - Finishing off this week's series of announcements of the results of its long-term ...Full Story»

Cyprus Inflation Climbs To 3-year High (11 hr(s), 37 min(s), 49 sec(s) ago)
(RTTNews) - Cyprus' consumer price inflation accelerated further in September to the highest l ...Full Story»

Croatia Producer Price Inflation Rises To 8.6% (12 hr(s), 07 min(s), 49 sec(s) ago)
(RTTNews) - Croatia's producer price inflation accelerated further in September to the highest ...Full Story»

Latvia Inflation Remains Stable At 3.2% (12 hr(s), 58 min(s), 49 sec(s) ago)
(RTTNews) - Latvia's consumer price inflation held steady in September after rising in the pre ...Full Story»

U.S. Jobless Claims Unexpectedly Dip From Upwardly Revised Level (13 hr(s), 02 min(s), 49 sec(s) ago)
(RTTNews) - The Labor Department released a report on Thursday showing first-time claims for U.S. ...Full Story»

U.S. Weekly Jobless Claims Unexpectedly Dip To 197,000 (13 hr(s), 44 min(s), 49 sec(s) ago)
(RTTNews) - The Labor Department released a report on Thursday showing first-time claims for U.S. ...Full Story»

Irish Inflation Climbs To 4.1%, Highest Since January 2024 (14 hr(s), 19 min(s), 49 sec(s) ago)
(RTTNews) - Ireland's consumer price inflation accelerated further in September to the highest ...Full Story»

Taiwan Trade Surplus Grows In September (15 hr(s), 08 min(s), 49 sec(s) ago)
(RTTNews) - Taiwan's foreign trade surplus increased notably in September compared with a year ...Full Story»