Growth in the SA economy decreased 0.2% from the second to the third quarter, slightly worse than expectations, with analysts polled by Reuters having predicted a 0.1% contraction.
Compared to the same quarter in 2022, the economy was 0.7% smaller - the first negative number since the first quarter of 2021, says PwC senior economist Christie Viljoen. Viljoen says this signalled broad weakness in the economy, with six out of the 10 industries recorded a year-on-year decline in activity.