SA's second quarter economic growth ticks up by 0.8%

JOHANNESBURG – Mining and manufacturing have kept the lights on for the South African economy, as GDP recorded a 0.8% increase in the second quarter.

This is the third consecutive quarter of growth, following the first quarter’s minimal 0.1%.

The latest GDP figure is also the highest since the second quarter of 2023.

Although the latest economic growth has surpassed the expectations of some economists, it’s still a fraction of the pre-COVID peak seen at the end of 2020.

On the supply side, the rebound in mining and manufacturing was helped by more stable electricity supply, logistical improvements, steady global demand and improved domestic conditions.

Agriculture, which saved the economy from flatlining or contracting in the previous quarter, reported a modest contribution to the overall growth albeit lower than its strong start.

Statistician-General Risenga Malueke: "In terms of agriculture, we saw a growth of 2.5% but it was largely due to increased economic activity in horticulture and animal products."

Stats SA said the expenditure side was also positive, lifted mainly by stronger household consumption and softer imports.