S. Africa’s economy grows at slower pace than forecast in Q3
by ChemOrbis Editorial Team - content@chemorbis.com
According to data released by South Africa’s official statistics office, Statistics South Africa, the country’s economy grew 0.2% following a revised growth rate of 3.5% in the second quarter, missing economists’ expectations that called for a growth rate of 0.5% on the quarter in a survey conducted by Reuters. On a yearly basis, meanwhile, South Africa’s economy expanded by 0.7%, in line with economists’ expectations.
The deceleration in economic growth was led by lower manufacturing activities which declined 3.2% in the manufacturing sector while the electricity sector and trade and accommodation also posted declines of 2.8% and 2.1%, respectively.
The deceleration in economic growth was led by lower manufacturing activities which declined 3.2% in the manufacturing sector while the electricity sector and trade and accommodation also posted declines of 2.8% and 2.1%, respectively.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Upsurge continues to wreak havoc on Turkey’s PP, PE markets
- PVC rally roars back in Asia as supply worries mount
- China PP, PE markets join global rally after Lunar New Year holiday
- PE, PP and PVC supply crunch exacerbated on US absence, traditional trade flows upended
- European PP, PE markets set for 5th bullish month as shortage bites
- Turkey shattered as PP prices shoot up to surreal levels
- Polymer markets face one of most chaotic times
- Turnaround season set to get underway in Asia
- Crude oil heals COVID-inflicted wounds; now what lies ahead?
- Global shipping turmoil deepens, adding to the upheaval in plastic resins
