Agriculture, manufacturing, trade, transport, storage, communication, and financial sector post solid growth in Oct-Dec
South Africa’s GDP growth accelerated to 3.1% y/y in Q4, beating consensus forecast of 1.8%, FANews reported. The rate in the previous three quarters were also revised slightly upwards. Thus the full-year GDP growth reached 1.3%, again beating 1% consensus forecast.
Details showed that sectors which posted the highest growth in the last quarter of 2017 were agriculture, manufacturing, trade, transport, storage, communication, and the financial sector. Output fell in mining and construction sectors. Looking forward, GDP growth is expected to accelerate further this year as business and consumer confidence improved over the latest political developments. Growth could then even exceed 2% in 2019, FANews added.
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