South Africa's economy unexpected contracted in the third quarter of this year, driven by a big drop in agricultural production, statistics agency data showed on Tuesday.

South Africa’s economy unexpectedly contracted by 0.3% in the third quarter of 2024, despite steady electricity supply during the period, dragged down by a decline in agricultural output. According to data released by Statistics South Africa (Stats SA) on Tuesday,

South Africa's economy unexpectedly shrank in the third quarter of this year as a drought caused a big drop in agricultural production, but analysts said they expected a return to modest growth in the coming quarters.