Slow but steady: South Africa records its fifth consecutive positive GDP growth rate in Q4-2025

SOUTH AFRICA - Report 11 Mar 2026 by Iraj Abedian

Real GDP figures released by Statistics South Africa (Stats SA) indicate that South Africa’s economy registered its fifth consecutive quarterly expansion, as it increased by 0.4% q/q in the final quarter of 2025. As in previous quarters, Q4-2025 growth was mainly fueled by strong household consumption, rising 1.2% quarter on quarter for the seventh consecutive positive quarter. Household spending continued to be supported by relatively low inflation and accommodative interest rates, which helped ease financial pressure on consumers. Households' debt-service costs fell to 8.5% of disposable income in Q3-2025, down from 8.7% in Q2-2025. At the same time, the South African Reserve Bank noted that real wage growth per worker rose to 3.1% in Q2-2025, as stronger nominal wage gains coincided with moderating consumer price inflation.

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