South Africa

South African mining production experienced a 2.5% growth in Q4 2023, contrasting with an annual decline in 2023. This rebound followed a 0.9% decrease in Q3, with a slight 0.6% YoY increase observed in December. Despite a marginal 0.1% rise in manufacturing output for the same quarter, concerns about the power supply cast uncertainty on the mining sector and overall economic outlook. An estimated economic expansion of 0.5% for the year has been tempered by these energy challenges.