SA GDP surges 66.1 percent on annualised basis

The country’s gross domestic product saw an expected surge in growth between July and September this year. It rose by an annualised rate of 66.1 percent after contracting by 51 per cent during the lockdown in the prior three months. Manufacturing, trade and mining were the biggest drivers of growth as lockdown restrictions eased in the third quarter. However, the recovery remains vulnerable, with power shortages and slow structural reforms likely to weigh on sentiment. The country needs a growth rate of at least five percent to remedy its unemployment crisis. But current projected growth for the year is expected to be minus 8 percent. For more on this story is Statistician-General, Risenga Maluleke. Courtesy #DStv403