<ul><li>South Africa likely avoided a recession last year, due to strong consumer demand in the fourth quarter.</li><li>Retail sales expanded 2.1% in the quarter, providing growth amid stagnation in the mining and manufacturing sectors.</li><li>Factors contributing to consumer spending boost include benign inflation, interest rate cuts, and early access to retirement savings.</li><li>However, economists project a modest growth rate of 1.7% for the South African economy in 2025.</li></ul>

Consumer boost likely saved South African economy from recession

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