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The South African economy went backwards in the third quarter, with real GDP contracting 0.3% quarter-on-quarter.
South Africans' spending patterns have remained relatively stable over the past three years, with the majority of Standard Bank customers allocating similar portions of their total spend towards essential expenses like groceries, transport, digital connectivity, and entertainment, as they did in 2022.
As 2024 winds down and businesses turn their attention to next year, the outlook for the South African economy in 2025 comes into focus.