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SA staves off technical recession, economy grows 3.3% in Q2

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Cape Town – South Africa has staved off a technical recession as Statistics SA announced on Tuesday that the economy grew by 3.3% quarter-on-quarter in the second quarter of 2016.

This was better than the expected 2.8% expansion and following the 1.2% contraction in the previous quarter.

The South African data in the past couple of months has been fairly decent, and this was certainly reflected in the GDP number, said TreasuryOne.

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