Q2 current account deficit narrows to 3.3% of GDP

South Africa‘s current account deficit narrowed to 3.3% of gross domestic product (GDP) in the second quarter, from a revised 4.6% of GDP in the first quarter, central bank data showed on Thursday.

The figure was slightly lower than the 3.4% deficit analysts polled by Reuters had expected, a boost for the South African economy after data this week showed the economy slipped into recession for the first time since 2009.