Strong uptick in GDP growth - TechCentral

Strong uptick in GDP growth

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The South African economy grew by 3,8% in the last quarter of 2013, Statistics South Africa said on Tuesday.

This was compared with 0,7% growth in real gross domestic product (GDP) in the previous quarter of last year.

The main contributors to the increase in the economic activity were manufacturing, contributing 1,8 percentage points and mining and quarrying, with 0,8 percentage points.

Wholesale, retail and motor trade; catering and accommodation, industry and finance; real estate and business services each contributed 0,3 percentage points.

The electricity, gas and water industry recorded a negative contribution of -0,1 percentage points.

Nominal GDP at market prices in the fourth quarter of 2013 was R876bn, which was R14bn more than the third quarter.

The wholesale, retail and motor trade, and catering and accommodation, expanded by R19bn to R142bn in the last quarter.

Transport, storage and communication expanded by R4bn to R71bn, while general government services expanded by R2bn to R135bn.

Agriculture, forestry and fishing decreased by R9bn to R9bn. Electricity, gas and water declined by R5bn to R21bn.  — Sapa

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