South African Economy Expands 1.4% in Q3

South African GDP advanced 1.4 percent year-on-year in the third quarter of 2014 compared with a revised 1.3 percent expansion in the previous period. Growth was mainly driven by the services sector while mining and manufacturing shrank.

Year-on-year, general government services grew by 3.2 percent. Finance, real estate and business services and the transport, storage and communication industry each increased by 2.2 percent.  Agriculture, forestry and fishing went up by 8.9 percent. 

In contrast, the mining sector shrank 2.9 percent; electricity, gas and water industry decreased by 1.8 percent and manufacturing production contracted by 0.8 percent. 

On a quarter-on-quarter seasonally adjusted basis, the economy advanced an annualized 1.4 percent in the three months to September, following a revised 0.5 percent expansion in the previous period. 

In the first nine months of 2014, the GDP grew 1.5 percent over the same period a year earlier.

South African Economy Expands 1.4% in Q3

Statistics South Africa | Joana Taborda |
11/25/2014 12:39:00 PM