South African economy contracts marginally in Q3

STORY: South African economy contracts marginally in Q3 SHOOTING TIME: Dec. 5, 2023 DATELINE: Dec. 7, 2023 LENGTH: 00:02:22 LOCATION: JOHANNESBURG, South Africa CATEGORY: ECONOMY SHOTLIST: 1. various of the conference 2. SOUNDBITE (English): RISENGA MALULEKE, Statistician General, STATS SA STORYLINE: After two consecutive quarters of growth, South African real gross domestic product (GDP) contracted by 0.2 percent in the third quarter (July-September) of 2023. The contributions to the performance of the economy were evenly spread between the industries on the production side of the economy. The contributions ranged from -0.3 of a percentage point to +0.1 of a percentage point. On the household front, strained consumers cut back on consumption expenditure for a second consecutive quarter, reducing their spending on items such as transport, recreation and housing utilities, while spending more on items such as clothing & footwear and restaurants & hotels. SOUNDBITE (English): RISENGA MALULEKE, Statisticia