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Economy falters but surprises on the upside in the 2020 fourth quarter
By Siphelele Dludla
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JOHANNESBURG - SOUTH Africa’s economy was thrown a lifeline of a slow recovery this year after economic contraction for 2020 came in better than expected on both an annual and a quarterly basis.
Statistics SA (StatsSA) said yesterday that the economy experienced its biggest annual contraction in seven decades in 2020 in spite of quarterly growth in the three months ending in December.
StatsSA said that the gross domestic product (GDP) shrank 7 percent compared with 0.2 percent growth in 2019 amid the devastating impact of Covid-19 pandemic.
The decline in the GDP was primarily led by a fall in manufacturing, trade, catering and accommodation; and transport, storage and communication. ....

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