An Economic Overview of the Western Cape - 2022Q3

An Economic Overview of the Western Cape - 2022Q3

The South African economy grew by 1.6% in the third quarter of 2022, and although the expansion was not broad-based, the level of real GDP surpassed the level it was pre the onset of the COVID-19 pandemic. The Western Cape economy mirrored that of the country in 2022Q3, increasing by 1.9%, higher than the level it was before the pandemic, although this growth is likely to be offset by the same country-wide challenges in the fourth quarter. This report examines the Western Cape’s key economic indicators. In particular, the report assesses the province’s economic performance as well as employment statistics.

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