GDP decreased by 1.5% in the third quarter of 2021, Statistics South Africa said on Tuesday, providing direct insight into just how badly the riots and looting in KwaZulu-Natal and parts of Gauteng in July affected the economy.
The statistics agency said decreased economic activity was reported for wholesale, retail and motor trade, and catering and accommodation services.
Statistician-general Risenga Maluleke said between July and September, the manufacturing industry shrank by 4.2%, contributing -0.5 of a percentage point to the GDP decline.
“Eight of the 10 manufacturing divisions reported negative growth rates in the third quarter. The motor vehicles, parts and accessories and other transport equipment division made the largest contribution to the decrease in the third quarter.”
The transport, storage and communications industry decreased by 2.2%, contributing -0.2 of a percentage point to the overall decline.
Household final consumption expenditure decreased by 24% in the third quarter, contributing -1.6 percentage points to total growth.
