The South African economy experienced a rebound in the second quarter, following a period of stagnation in the previous quarter, as reported by Statistics South Africa on Tuesday.
In real terms, the gross domestic product (GDP) increased by 0.4 percent on a quarter-over-quarter basis, following no change in the first quarter of the year.
Seven industries exhibited positive growth compared to the prior quarter. Leading this growth was the finance sector, which expanded by 1.3 percent, closely followed by the trade sector with a 1.2 percent increase.
From an expenditure perspective, household final consumption rose by 1.4 percent, and government consumption increased by 1.0 percent relative to the previous quarter. Conversely, investments fell by 1.4 percent, and net foreign demand detracted by 0.6 percent.
On an annual basis, GDP growth decelerated to 0.7 percent in the second quarter, down from 1.9 percent in the preceding quarter.
