SA seen dodging contraction even as key sectors shrink

South Africa’s economy probably skirted a contraction in the third quarter, even as sectors that make up more than a fifth of total gross domestic product shrank. Despite a 1.6% slump in mining and 1.2% in manufacturing in the three months through September, analysts expect meager quarter-on-quarter economic growth because of less severe power cuts and the increased use of self-generation by businesses and homeowners.

State-owned utility Eskom, which has subjected Africa’s most industrialised economy to severe power cuts this year to protect the grid from collapse, did so on fewer days and for less hours in the third quarter than it did in the prior three months. Senior economist at Oxford Economics Africa, Jee-A van der Linde, who sees the economy growing by 0.1% in the third quarter, said South Africa remains in recovery mode.

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