SA economy grew 1.4% in fourth quarter of 2018 – Stats SA

Image: iStock

Image: iStock

Negative contributions to GDP came from mining, trade, and general government services.

South Africa’s economy grew by 1.4% in the fourth quarter of 2018, after expanding by 2.6% in the third quarter, the country’s statistics agency said on Tuesday.

The largest positive contributors to growth in gross domestic product were the transport, manufacturing, and finance industries.

Transport, storage, and communication increased by 7.7% and contributed 0.7 percentage points to GDP. Manufacturing rose 4.5% and added 0.6 percentage points while finance, real estate, and business services climbed 2.7%, contributing 0.5 percentage points.

Negative contributions to GDP came from mining, trade, and general government services.

The annual real GDP growth of 0.8% last year was driven by increased economic activity in the finance, real estate, and business services, which contributed 0.4 percentage points, while general government services added 0.2 percentage points.

Manufacturing; trade, catering and accommodation; transport, storage and communication; and personal services each accounted for 0.1 percentage points.

Three industries shrank in 2018, namely agriculture, forestry and fishing which fell 4.8%, mining and quarrying which was down 1.7% and construction which decreased by 1.2%.

– African News Agency

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