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[ALERT] SA GDP at 2% in third quarter

A Reuters poll had expected third-quarter GDP growth to come in 1.5% q/q from 2.5% in the previous quarter.

Picture: EWN.

PRETORIA - Stats SA has announced that South Africa's real gross domestic product (GDP) growth rate was 2% in the third quarter of 2017.

Second quarter GDP growth was revised from 2.5% to 2.8% after the incorporation of revised data sources.

A Reuters poll had expected third-quarter GDP growth to come in 1.5% q/q from 2.5% in the previous quarter.

The largest contributor to growth in GDP in the third quarter was the agriculture, forestry and fishing industry,
which increased by 44.2% and contributed 0.9 of a percentage point to GDP growth.

Mining and quarrying increased by 6.6% and contributed 0.5 of a percentage point to GDP growth.

Manufacturing increased by 4.3%, which contributed a further 0.5 of a percentage point.

Three industries each contributed -0.1 of a percentage point to GDP growth, namely electricity, gas and water
(-5.5% growth rate), trade (-0.4% growth rate) and general government (-0.7% growth rate).