20°C / 22°C
  • Thu
  • 23°C
  • 15°C
  • Fri
  • 25°C
  • 15°C
  • Sat
  • 25°C
  • 15°C
  • Sun
  • 28°C
  • 14°C
  • Mon
  • 29°C
  • 11°C
  • Tue
  • 24°C
  • 14°C
  • Thu
  • 21°C
  • 14°C
  • Fri
  • 22°C
  • 14°C
  • Sat
  • 20°C
  • 14°C
  • Sun
  • 21°C
  • 13°C
  • Mon
  • 23°C
  • 13°C
  • Tue
  • 26°C
  • 15°C
  • Thu
  • 23°C
  • 16°C
  • Fri
  • 28°C
  • 16°C
  • Sat
  • 27°C
  • 16°C
  • Sun
  • 29°C
  • 16°C
  • Mon
  • 31°C
  • 15°C
  • Tue
  • 26°C
  • 15°C
  • Thu
  • 25°C
  • 16°C
  • Fri
  • 28°C
  • 15°C
  • Sat
  • 28°C
  • 16°C
  • Sun
  • 29°C
  • 16°C
  • Mon
  • 31°C
  • 12°C
  • Tue
  • 28°C
  • 17°C
  • Thu
  • 25°C
  • 18°C
  • Fri
  • 24°C
  • 19°C
  • Sat
  • 27°C
  • 20°C
  • Sun
  • 26°C
  • 20°C
  • Mon
  • 23°C
  • 17°C
  • Tue
  • 26°C
  • 16°C
  • Thu
  • 20°C
  • 12°C
  • Fri
  • 20°C
  • 14°C
  • Sat
  • 21°C
  • 15°C
  • Sun
  • 21°C
  • 16°C
  • Mon
  • 21°C
  • 15°C
  • Tue
  • 21°C
  • 13°C
  • Thu
  • 23°C
  • 10°C
  • Fri
  • 26°C
  • 10°C
  • Sat
  • 23°C
  • 12°C
  • Sun
  • 21°C
  • 10°C
  • Mon
  • 26°C
  • 8°C
  • Tue
  • 32°C
  • 11°C
  • Thu
  • 19°C
  • 12°C
  • Fri
  • 20°C
  • 12°C
  • Sat
  • 20°C
  • 14°C
  • Sun
  • 19°C
  • 13°C
  • Mon
  • 20°C
  • 12°C
  • Tue
  • 25°C
  • 13°C
  • Thu
  • 25°C
  • 17°C
  • Fri
  • 29°C
  • 16°C
  • Sat
  • 29°C
  • 17°C
  • Sun
  • 31°C
  • 15°C
  • Mon
  • 32°C
  • 13°C
  • Tue
  • 24°C
  • 17°C
  • Thu
  • 30°C
  • 12°C
  • Fri
  • 33°C
  • 16°C
  • Sat
  • 33°C
  • 15°C
  • Sun
  • 33°C
  • 13°C
  • Mon
  • 31°C
  • 14°C
  • Tue
  • 33°C
  • 14°C
  • Thu
  • 27°C
  • 16°C
  • Fri
  • 25°C
  • 18°C
  • Sat
  • 29°C
  • 18°C
  • Sun
  • 30°C
  • 18°C
  • Mon
  • 22°C
  • 16°C
  • Tue
  • 24°C
  • 14°C
  • Thu
  • 19°C
  • 9°C
  • Fri
  • 21°C
  • 10°C
  • Sat
  • 21°C
  • 13°C
  • Sun
  • 20°C
  • 13°C
  • Mon
  • 21°C
  • 12°C
  • Tue
  • 25°C
  • 11°C

SA GDP below expectations

Quarter-on-quarter growth was just 0,7 percent from the second quarter's revised 3,2 percent.

Quarter-on-quarter growth was just 0,7 percent from the revised 3,2 percent in the second quarter. Picture: EWN.

JOHANNESBURG - Statistics South Africa on Tuesday said gross domestic product (GDP) figures show only 1,8 percent growth year-on-year in the third quarter from a revised 2,3 percent in the previous three months.

Tuesday's results also showed that quarter-on-quarter growth was just 0,7 percent, a disappointing low following the revised 3,2 percent in the second quarter.

The figures came in somewhat lower than expected after a consensus forecast from Reuters predicted the economy would grow by 2,1 percent year-on-year.

They also expected quarter-on-quarter growth to be 1,2 percent, 0,5 higher than the figure.

Construction went up 2,1 percent for the quarter, agriculture was up 3,6 percent and mining increased 11,4 percent.

But the manufacturing sector, likely reeling from the lengthy automotive strike which ended last month, was down 6,6 percent.

Industrial Development Corporation Chief Economist Lumkile Mondi says the results are disappointing.

"We were expecting a much better figure than this one. Things are really bad. It really indicates the need for us to take action."

He says social problems such as poor education are a major concern for the economy.

"We've got labour market inflexibility and in a market such as ours, where unemployment is so high, we need to do something about this."

Stats SA says Gauteng remains the greatest player in the economy with a 34,7 percent contribution, followed by KwaZulu-Natal with 15,8 percent and the Western Cape at 14,0 percent.

All three provinces showed a small drop in their overall contribution due to increases from Mpumalanga and Limpopo.

Click here for Stats SA's full report.

Comments

EWN welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

- Racism (including offensive comments based on ethnicity and nationality)
- Sexism
- Homophobia
- Religious intolerance
- Cyber bullying
- Hate speech
- Derogatory language
- Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the EWN community a safe and welcoming space for all.

EWN reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

EWN is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

comments powered by Disqus