SOUTH Africa’s economy grew 1.2% in the second quarter compared to the previous three months, statistics agency data showed on Tuesday, a better-than-expected outcome driven by sectors like communications, agriculture and mining.
Economists polled by Reuters had forecast quarterly gross domestic product (GDP) growth of 0.7% (ZAGDPN=ECI) in seasonally adjusted, non-annualised terms.
In unadjusted year-on-year terms, GDP jumped 19.3% in the second quarter, reflecting a low base last year when the government shuttered much of the economy during a harsh lockdown to contain the spread of the coronavirus.
Statistics South Africa’s sectoral breakdown showed the country’s economic recovery from the pandemic remained uneven.
Transport and communication activity grew 6.9% quarter on quarter, agriculture 6.2%, trade 2.2% and mining 1.9%. But finance contracted 0.4%, manufacturing 0.8% and construction 1.4%.
The statistics agency revised first-quarter GDP growth to 1.0% quarter on quarter from a reading of 1.1% previously.
The third quarter is
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