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GDP declines by 0.3% in third quarter

The South African economy experienced a contraction of 0.3% in the third quarter, as reported by Statistics South Africa. This decline was influenced by several factors including a significant drop in mining and manufacturing outputs, which fell by 1.1% and 1.3% respectively. Agriculture also saw a sharp decrease of 9.6%, largely due to avian flu outbreaks affecting poultry production. Despite these setbacks, sectors like finance, real estate, and business services showed growth. The contraction was somewhat mitigated by a 0.8% increase in government spending, although household consumption expenditure decreased by 0.3%. This economic performance reflects ongoing challenges such as load shedding, logistical constraints, and a global economic slowdown, painting a complex picture of South Africa's economic health.

Read the Full MSN Article at:
[ https://www.msn.com/en-za/news/other/gdp-declines-by-0-3-in-third-quarter/ar-AA1vb9au ]