South Africa’s economy is growing. According to official Statistics SA numbers, the economy grew by 2.2% in the third quarter of 2018, meaning that the country is no longer in a recession. The manufacturing sector, expanding by 7.5%, is the main driver of growth,
Manufacturing did well in this period, mainly due to a production increase in basic iron and steel, metal products, machinery and motor vehicles. The news about the recovery of South Africa’s economy has led to a strengthening of the South Africa Rand.
SA’s Agriculture also performed well in this period, with an output increase by 6.5%. South Africa’s transport, storage and communication sectors contributed to the recovery of the economy by an increase 5.7%. Mail & Guardian reported that finance, real estate and business services increased by 2.3%, also in the third quarter.
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