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The Don Consultancy Group (DCG) Chief Economist Mr Chifi Mhango says its welcomed positive news for the South African economy recovering to 4.9% in 2021 on a yearly basis amid the challenging operating environment faced during the year.

According to the data by StatsSA, the South African economy grew by 1.2% on quarter in the three months to December of 2021, following an upwardly revised 1.7% contraction in the previous period and slightly below market estimates of a 1.3% rise. Five out of ten activities recorded growth in production, notably agriculture, forestry and fishing (12.2%), on increased animal production; trade, accommodation and catering (2.9%); manufacturing (2.8%) and personal services (2.7%). The main declines were seen for mining (-3.1%), on lower output from iron ore, gold and coal; construction (-2.2%) and utilities (-3.4%).

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Issued by Don Consultancy Group