South Africa’s economy
could expand by an annualized 45.2% in the third quarter, according to central
The monetary policy
committee used that estimate for the quarterly change in gross domestic product
at its meeting Thursday, when it left the benchmark interest
rate unchanged, the Pretoria-based Reserve Bank said in an emailed
response to questions.
It will be the biggest
quarterly increase in at least 30 years and follows a record annualized
quarter-on-quarter contraction of 51% in the three months through June. The
median estimate of 26 economists in a Bloomberg survey is for an expansion of
35.3% in the third quarter.