South Africa’s economy contracted by 0.7% YoY in Q3 2023, influenced by logistical challenges and an ongoing electricity crisis. This decline, reported by Statistics South Africa, contrasts with a 1.5% growth in the previous quarter and exceeds the predicted 0.1% shrinkage. Key sectors like mining and utilities slowed down, with agriculture and construction also showing significant contractions. The GDP growth for the first nine months of the year was just 0.3%, indicating potential underperformance against the National Treasury and central bank’s 0.8% growth forecast for 2023.