South Africa’s economy expands in Q2 – stats agency

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South Africa’s economy expanded by 3.3 percent in the second quarter of 2016 after shrinking by 1.2 percent in the three months to March, Statistics South Africa said on Tuesday.

Gross domestic product also expanded by 0.6 percent on an unadjusted year-on-year basis in the second quarter, compared with 0.1 percent contraction in the previous three months, the agency said.

Economists polled had expected a quarter-on-quarter GDP expansion of 2.3 percent while the economy was seen expanding 0.5 percent year-on-year.

 

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