South Africa avoids a technical recession

GUEST – Joe de Beer : DDG, Economic Statistics, StatsSA<br /> <br /> South Africa’s gross domestic product (GDP) increased by 0.4% in the first quarter of 2023, ensuring the country to avoid a technical recession. StatsSA released South Africa’s GDP data on Tuesday, which showed marginal growth in the economy. This news follows the shock GDP decline of 1.3% in the fourth quarter of 2022 amid record levels of load shedding and a significant downturn in economic activity, which made many experts predict a technical recession. According to StatsSA, the manufacturing industry increased by 1.5% in the first quarter, contributing 0.2 of a percentage point to GDP growth. <a href="http://www.kayafm.co.za/">Kaya FM </a>