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(Bloomberg) Key South African data suggest a marginal increase in output in the first quarter after the economy contracted the most in a century in 2020 because of the coronavirus pandemic.
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Key South African data suggests a marginal increase in output in the first quarter after the economy contracted the most in a century in 2020 because of the coronavirus pandemic.
Manufacturing and mining production, and retail sales rose slightly in the three months through March compared with the previous quarter. The country was at the so-called virus alert-level 3 for part of the first quarter after a second wave of Covid-19 cases, which means some economic activity was restricted.
Mining and manufacturing comprise almost a quarter of gross domestic product, while trade, which includes the retail sector, contributes 16%.
The statistics agency is scheduled to publish GDP data for the first quarter on 8 June, when it’ll drop the focus on annualised growth and change the base year for the data to 2015 from 2010.
Key SA data suggests marginal first-quarter GDP growth sierraleonetimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sierraleonetimes.com Daily Mail and Mail on Sunday newspapers.