JSE ends higher on GDP data

The rand held steady yesterday, while the JSE turned firmer after official data showed the economy expanded marginally in the first quarter — dodging a technical recession — despite intense power cuts.

Data from Stats SA shows GDP expanded 0.4% quarter on quarter in the three months to March, after a downwardly revised 1.1% decline in the prior quarter.

Eight of 10 economic activities covered reported growth.

Manufacturing increased by 1.5% compared with a contraction of 1.2% in the fourth quarter, while finance, real-estate and business services, transport, personal services, and trade, catering and accommodation sectors also expanded.

The JSE all share ended 0.31% higher at 76,840.11.