South African GDP Growth Steady at 0.7% YoY in Q3

The South African economy advanced 0.7 percent year-on-year in the September quarter of 2016, the same from an upwardly revised figure in the second quarter. It was the second straight quarter of growth, as an increase in finance & real estates activities, construction and transport & communication offset a decline in the agriculture, mining and manufacturing.

The finance, real estate and business services recorded the fastest growth (+1.8 percent from +2.2 percent in the prior quarter), followed by general government services (+1.7 percent from +1.7 percent), personal services (+1.4 percent from +1.0 percent); transport, storage and communication (+0.1 percent from +0.1 percent); trade, catering and accommodation (+0.5 percent from +1.8 percent), construction (+1.4 percent from +0.3 percent).  

In contrast, production fell for manufacturing (-0.4 percent from +3.6 percent), agriculture (-3.6 percent from -12 percent) mining (-0.1 percent compared to -3.4 percent) and electricity, gas and water (-1.8 percent compared to -2.6 percent).

On a seasonally adjusted annualized basis, the economy expanded 0.2 percent, compared to an upwardly revised 3.5 percent growth in the June quarter and below market estimates of a 0.5 percent expansion. It was the second straight quarter of growth.

South African GDP Growth Steady at 0.7% YoY in Q3

Statistics South Africa l Rida Husna |
12/6/2016 12:42:34 PM