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Industrial Expansion and Slowdown since 1961

In: The South African Economy, 1910–90

Author

Listed:
  • Stuart Jones

    (University of the Witwatersrand)

  • André Müller

    (University of Port Elizabeth)

Abstract

After the Second World War, South Africa enjoyed an unprecedentedly rapid rate of economic growth. Between 1946 and 1971 national income increased year after year. Recessions took the form not of declines in national income but merely of decelerations in its growth rate — so-called ‘growth recessions’. The annual increase in real GDP varied between 2.1 per cent (in 1958) and 7.6 per cent (in 1963) and averaged 5.0 per cent over the 25 years. In the ‘golden sixties’ the economic performance was even more remarkable: real GDP rose by 5.8 per cent per year and per capita income by over 3 per cent per year during the decade.

Suggested Citation

  • Stuart Jones & André Müller, 1992. "Industrial Expansion and Slowdown since 1961," Palgrave Macmillan Books, in: The South African Economy, 1910–90, chapter 19, pages 278-304, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-22031-1_19
    DOI: 10.1007/978-1-349-22031-1_19
    as

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