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South Africa’s second quarter GDP contracts 0.2% q/q
Mining, manufacturing and trade dragged growth lower as imports surged 4.9% and net exports cut 1.1 percentage points from expenditure, Stats SA said.
- On Tuesday, Statistics South Africa confirmed that South Africa's GDP contracted 0.2% in the second quarter, following a revised 0.4% expansion in the first quarter of 2026.
- A dramatic slump across three key industrial sectors pushed national growth into negative territory, with mining shrinking 3.0%, manufacturing falling 1.8%, and catering and accommodation declining 1.9%.
- Net exports acted as a major drag of-1.1 percentage points on expenditure, driven by a 4.9% surge in imports that outpaced weak 0.9% growth in exports.
- The quarter-on-quarter contraction yields a sluggish 0.9% year-on-year growth rate, demonstrating clear momentum loss; the Services sector slump carries compound effects for the job market.
- Looking ahead, Statistician-General Risenga Maluleke confirmed that Stats SA, collaborating with the South African Reserve Bank, is changing the national accounts base year to 2022 for clearer structural insight.
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South Africa’s second quarter GDP contracts 0.2% q/q
PRETORIA, Sept 8 (Reuters) - South Africa's economy contracted 0.2% in the second quarter of 2026 in seasonally adjusted quarter-on-quarter terms, statistics agency data showed on Tuesday. Economists polled by Reuters had forecast that gross do...
South Africa’s economy is seen snapping its longest quarterly growth run in almost a decade as the war in Iran crimps domestic demand and key sectors accounting for almost a fifth of gross domestic product contract.
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Total News Sources16
Leaning Left0Leaning Right1Center4Last UpdatedBias Distribution80% Center
Bias Distribution
- 80% of the sources are Center
80% Center
C 80%
R 20%
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