SA’s GDP grows by 3.1% in second quarter

Posted On Tuesday, 03 September 2019 11:37 Published by
Rate this item
(0 votes)

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

-RISENGA-MALULEKA-
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

Last modified on Wednesday, 04 September 2019 11:45

Most Popular

Rebosis Property Fund retail portfolio delivers excellent operational performance despite a tough market

Nov 11, 2019
Sisa Ngebulana REBOSIS
Rebosis Property Fund, the JSE’s first listed black-managed REIT, today reported its…

Massive property auction on behalf of Telkom

Nov 11, 2019
Agricultural Land Beaufort West
GoIndustry DoveBid SA (GoIndustry) is hosting a massive property auction on behalf of…

African Union for Housing Finance (AUHF) Cape Town declaration provides 5 point plan for african governments to address housing finance shortage

Nov 14, 2019
African Union of Housing Finance
Following the successful completion of their 35th Annual Conference, the members of the…

10 SA REITs are among South Africa’s top listed companies

Nov 15, 2019
Estienne de Klerk SA REIT Chairman
South African REITs (real estate investment trusts) have once again excelled among the…

Balwin Properties Limited marks success of Sub-Saharan Africa’s only Crystal Lagoons amenity

Nov 11, 2019
DJI copy
Balwin Properties Limited (Balwin) in conjunction with Crystal Lagoons B.V. (Crystal…

Please publish modules in offcanvas position.