Catering and accommodation biggest contributors of negative growth

Trade, catering and accommodation were the biggest contributors to the GDP contraction - contributing 0.7% in negative growth.

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JOHANNESBURG - The latest GDP figures show that catering and accommodation are among the biggest contributors to negative growth.

Figures show that South Africa's economy shrunk by 1.5% t in the third quarter of this year.

With debate over whether there should be a stronger lock down - the latest figures show that this could be devastating to some sectors.

This quarter's results have also factored in the economic disruptions caused by the civil unrest in July.

Trade, catering and accommodation were the biggest contributors to the GDP contraction - contributing 0.7% in negative growth.

This was due to the decrease in economic activity in wholesale - retail and motor trade as well as catering and accommodation services.

Manufacturing was also hard hit with economic activity down by 4.2%.

The knock on production of field crops and animal products resulted in a 0.4% contraction in the agriculture- forestry and fishing industry

Stats SA said economic activity was also down in the transport - storage and communication industry which also shrunk by 2.2%.

READ: SA’s economy shrinks by 1.5% in Q3 of 2021