Private power demand helps boost South Africa's GDP growth

Hanno Labuschagne

Journalist
Staff member
Joined
Sep 2, 2019
Messages
5,404
Private power demand helps boost South Africa's GDP growth

Fixed-investment spending in South Africa grew by the most in almost three years in the second quarter as companies and households invested in alternative energy sources because of persistent power cuts.

A sharp rise in investments in imported machinery and equipment – mostly for electricity infrastructure – led gross fixed capital formation to increase by 3.9% in the quarter, compared with 1.8% in the prior three months, Statistics South Africa said in a report released in the capital, Pretoria, on Tuesday.

[Reporting with Bloomberg]
 
Back
Top