Output rises in agriculture, mining and manufacturing, trade and tourism sectors decline
South Africa’s GDP growth reached 2% Q/Q in Q3, SA news reported referring to the local statistical office head Risenga Maluleke. The stats office also revised to the upside the Q2 GDP growth rate to 2.8% q/q from earlier reported 2.5%, Maluleke added. Economy has expanded by 0.8% on the year in July-September, while January-September annual increase came in at 1%.
Details showed agricultural sector was the main growth driver driving adding 0.9pps to GDP growth in the third quarter of the year namely due to the increased production of field crops and horticultural products. Mining sector and manufacturing sector added 0.5pps to GDP growth each. By contrast, trade, catering and accommodation and general.
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