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South Africa’s economy contracts 7% in 2020

South Africa’s economy has expanded by 6.3 per cent in the last quarter of 2020, better than market consensus. Manufacturing recorded the largest increase of 21.1 per cent followed by construction with 11.2 per cent. The country’s annual real GDP contracted by 7 per cent last year, better than expected the rand has since strengthened to R15.39 against the dollar, after the release of those numbers. Isaah Mhlanga, Chief Economist at Alexander Forbes joins CNBC Africa for more.


Tue Mar 09 2021 | 10:44:26 GMT+0000 (Coordinated Universal Time)

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