South African Economy Sees Modest Growth in Q4

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The South African economy rose by 0.4% quarter-on-quarter in Q4 2025, following a downwardly revised 0.3% growth in the prior period and slightly above analysts’ forecasts of 0.3%. This marked the fifth consecutive quarter of expansion, with five out of ten industries registering growth. The finance sector led growth, rising 1.4% and contributing 0.3 percentage points to GDP. Trade increased 0.9% (0.1 points), and personal services grew 0.4% (0.1 points). Manufacturing weighed on GDP, falling 0.6% and subtracting 0.1 points. On a yearly basis, the GDP grew by 0.8% in Q4, down from a 2.1% advance in Q2 and below forecasts of 1.8%. In 2025, the GDP rose by 1.1%, the most since 2022, following a revised increase of 0.5% in 2024.

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