Stats SA to release Q1 GDP results

Business

Johannesburg – Statistics South Africa will release GDP growth figures for the first quarter on Tuesday morning.

The data will give insight into how the economy performed in the first three months of 2021.

It’s expected the quarterly growth rate will be between 2.5 and 3 percent.

Economists say higher commodity prices and increasing global demand would be the biggest drivers of growth.

These figures come just a week after the country’s unemployment rate rose to a record 32.6%.

Government and business are on a drive to increase investment and boost growth as Covid-19 pulled the economy into 7% contraction last year.

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