[ALERT] GDP growth 3.1% in fourth quarter of 2017

Stats SA says the largest positive contributor to growth in GDP in the fourth quarter was the agriculture, forestry and fishing industry,

Picture: EWN

JOHANNESBURG - South Africa's gross domestic product (GDP) growth rate was 3.1% in the fourth quarter of 2017.

Stats SA says the largest positive contributor to growth in GDP in the fourth quarter was the agriculture, forestry and fishing industry, which increased by 37.5% and contributed 0.8 of a percentage point to GDP growth. The industry's growth of 37.5% in the fourth quarter of 2017 was mainly the result of higher production of animal products.

The trade, catering and accommodation industry increased by 4.8% and contributed 0.6 of a percentage point to GDP growth. Increased economic activity was reported mainly in wholesale, retail and motor trade.

The manufacturing industry and finance, real estate and business services increased by 4.3% and 2.5% respectively, and each contributed 0.5 of a percentage point to GDP growth.

Mining and quarrying decreased by 4.4%, which contributed -0.3 of a percentage point to GDP growth.