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Growing GDP paints positive picture

South Africa’s Gross Domestic Product (GDP) growth for the third consecutive quarter is good news as we work to recover from the havoc wreaked by Covid-19 and hard lockdown regulations, even if the economy is still 2,7% smaller than  in the first quarter of 2020.

 

Stats SA said earlier today despite the Covid-19 pandemic GDP showed 4.6% in the first three months of 2021.

Looking at the stats we are content that the mining sector performed well, increasing by 18.1% and contributing 1.2 percentage points. This means that economic activities in the mining sector continued unabated and the sector had a stable income, providing stability and job security for its workers.  

The pickup in household spending at a rate of 4.7% shows that workers and their families are also slowly recovering from the devastating effects or the pandemic.

The contraction in the electricity, gas and water industry are concerning and will possibly mean that workers will be subjected to even more price increases to have those services delivered.

UASA urges government to step in and assist direly affected industries. Getting our economy back on track will see continued GDP growth and growing wealth and peace of mind for the country’s workers.

 For further enquiries or to set up a personal interview, contact Abigail Moyo at 065 170 0162.


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