South Africa out of recession as GDP grows by 2.2 percent in Q3

In September, South Africa entered a technical recession after the country's GDP decreased by 0.7% in Q2.


PRETORIA (Reuters) – South Africa’s economy expanded 2.2 percent in the third quarter in quarter-on-quarter terms, snapping out of recession after a revised 0.4 percent contraction in the second quarter, data from Statistics South Africa showed on Tuesday.

Economists polled by Reuters had predicted a 1.6 expansion for the third quarter.

The data also showed economic output rose 0.5 percent on an unadjusted year-on-year basis in the third quarter, in-line analysts’ predictions.

Reporting by Olivia Kumwenda-Mtambo; Editing by James Macharia