South Africa’s economy exceeded expectations in the third quarter, posting 0.5% growth from the previous quarter and 2.1% year-on-year, marking the country’s longest growth streak since 2021. Analysts credit the performance to reduced power outages, improved efficiency at state logistics company Transnet, and robust mining and domestic consumption. Razia Khan of Standard Chartered described the growth as “almost heroic” and noted a more positive outlook for the nation’s economy, while Goldman Sachs indicated it would revise full-year projections upward. Despite this strong showing, recent surveys revealed declining sentiment among manufacturers due to weak export sales, highlighting that challenges remain even amid the encouraging economic rebound.
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