South Africa GDP Expands 0.6% YoY in Q2


The South African economy advanced 0.6 percent year-on-year in the three months to June of 2016, recovering from a downwardly revised 0.1 percent contraction in the previous period and beating market expectations of a 0.5 percent growth. It is the best performance in three quarters, mainly due to a rebound in manufacturing.

The manufacturing sector recorded the biggest increase (3.6 percent compared to -0.9 percent in Q1), followed by finance and real estate activities (2.2 percent compared to 2.3 percent in Q1); trade, catering and accommodation (1.8 percent compared to 1.2 percent); government services (1.7 percent compared to 1.8 percent); personal services (1 percent compared to 0.9 percent); construction (0.7percent compared to 2.5 percent) and transport, storage and communication (0.1 percent compared to -0.6 percent). 

In contrast, production fell for agriculture (-12 percent compared to -2.9 percent); mining (-4.5 percent compared to -8.5 percent) and electricity, gas and water (-3.6 percent compared to -2.6 percent).

On a seasonally adjusted annualized basis, the economy expanded 3.3 percent, recovering from a 1.2 percent contraction in the previous period and the highest growth rate in 1-1/2-years. 

South Africa GDP Expands 0.6% YoY in Q2


Statistics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
9/6/2016 11:29:22 AM