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South Africa's Q1 GDP rises 0.5%
South Africa's economy grew by 0.5% quarter-on-quarter in the first quarter of the year, supported by the agriculture and financial services sectors, while the industrial sector experienced a continued decline for the sixth consecutive month. An increase in government spending by 0.6% and an improvement in exports by 0.5% helped boost growth, while imports decreased by 2.6%, contributing to the support of GDP. Nominal annual growth slowed to 2.7%, with mining profits rising by 68% compared to the previous year.
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