South Africa’s economy grew more than expected in the first quarter, recovering to the level it was before the Covid-19 pandemic.
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South Africa’s unemployment rate rose to a new record high of 35.3% in the fourth quarter of 2021.
Consumer inflation quickened faster than expected in December to 5.9% year on year, from 5.5% in November, setting the stage for another rate hike.
South Africa’s inflation rate jumped to the highest level in almost five years in November.
GDP decreased by 1.5% in the third quarter of 2021, providing a direct insight into just how badly July’s looting affected the economy.
South Africa’s economy is 11% bigger than previously estimated, after statistics authorities changed the way they calculate GDP.
South Africa’s headline unemployment rate hit a record high of 34.4% in the second quarter from 32.6% in the first three months of the year as businesses shed staff due to Covid-19 lockdowns.
Consumer price inflation accelerated to a 30-month high of 5.2% year on year in May, moving above the midpoint of the central bank’s target range for the first time since Covid-19 struck.
South Africa’s unemployment rate rose to a new record high of 32.6% in the first quarter of 2021 from 32.5% in the final quarter of 2020, the statistics agency said on Tuesday.
South Africa’s economy contracted the most in a century in 2020 as restrictions to curb the spread of the coronavirus pandemic ravaged output and disrupted trade.