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