SA’s GDP grows by 3.1% in second quarter

Posted On Tuesday, 03 September 2019 11:37 Published by
Rate this item
(0 votes)

South Africa’s gross domestic product increased by 3.1% in the second quarter of 2019, Statistician General Risenga Maluleke revealed on Tuesday.

-RISENGA-MALULEKA-
Addressing reporters in Cape Town, Risenga highlighted several industries that had contributed positively to the growth.

The mining and quarrying industry, statistics revealed, increased by 14.4% and contributed 1.0 percentage point to the GDP growth.

“Increased production was reported for mining of iron ore, manganese ore, coal and other metal ores including platinum,” said Risenga.

Finance, real estate and business services increased by 4.1% in Quarter 2. Increased economic activity was reported for financial intermediation, real estate activities and business services. The trade, catering and accommodation industry increased by 3.9%. This was due to increased economic activity that was reported in all trade divisions except the food and beverages major group.

General government services increased by 3.4%, mainly attributed to an increase in employment. In contrast, the agriculture, forestry and fishing industry and the construction industry decreased by 4.2% and 1.6% respectively, and each contributed -0.1 of a percentage point to GDP growth.

The unadjusted real GDP at market prices for the first six months of 2019 increased by 0.4% compared with the first six months of 2018

Last modified on Wednesday, 04 September 2019 11:45

Most Popular

53 Telkom properties coming up for auction

Mar 02, 2020
Orange Grove
GoIndustry DoveBid SA (GoIndustry) is hosting another massive property auction on behalf…

Balwin's Munyaka registers record R850 million in opening weekend sales, selling 555 apartments

Mar 09, 2020
Steve_Brookes_Balwin_Properties
JSE listed Balwin Properties, a developer that cares about environmentally responsible…

Young buyers driving residential property market in Bloemfontein

Mar 04, 2020
Bloem Willows
Bloemfontein is experiencing a surge in residential property transactions concluded by…

Hyprop bolsters Rosebank Mall offering through securing the Checkers Premium FreshX concept

Mar 04, 2020
Rosebank Mall
Shoppers at Rosebank Mall in Johannesburg can look forward to a world-class supermarket…

Fairvest Property Holdings maintains above-inflation growth in challenging market

Mar 02, 2020
Darren Wilder CEO Fairvest Property Holdings
Fairvest Property Holdings Limited (“Fairvest”) today again announced solid results for…

Please publish modules in offcanvas position.