SA’S GDP GROWS BY 3.1% IN SECOND QUARTER

South Africa’s gross domestic product increased by 3.1% in the second quarter of 2019, Statistician General Risenga Maluleke revealed on Tuesday.

Addressing reporters in Cape Town, Risenga highlighted several industries that had contributed positively to the growth.

The mining and quarrying industry, statistics revealed, increased by 14.4% and contributed 1.0 percentage point to the GDP growth.

“Increased production was reported for mining of iron ore, manganese ore, coal and other metal ores including platinum,” said Risenga.

Finance, real estate and business services increased by 4.1% in Quarter 2. Increased economic activity was reported for financial intermediation, real estate activities and business services. 

The trade, catering and accommodation industry increased by 3.9%. This was due to increased economic activity that was reported in all trade divisions except the food and beverages major group. 

General government services increased by 3.4%, mainly attributed to an increase in employment.

In contrast, the agriculture, forestry and fishing industry and the construction industry decreased by 4.2% and 1.6% respectively, and each contributed -0.1 of a percentage point to GDP growth. 

The unadjusted real GDP at market prices for the first six months of 2019 increased by 0.4% compared with the first six months of 2018. – SAnews.gov.zahttps://www.sanews.gov.za/south-africa/sas-gdp-grows-31-second-quarter