South Africa GDP Up 1.4%


The South African economy advanced a seasonally adjusted annualized 1.4 percent in the third quarter of 2014, following a revised 0.5 percent expansion in the previous period. It is the highest growth rate in three quarters boosted by trade and financial services and a rebound in the mining sector.

The largest contributors to the quarter-on-quarter growth were finance, real estate and business services (+2.4 percent) and the wholesale, retail and motor trade, catering and accommodation industry each (+3.4 percent). General government services increased 2.2 percent and the agriculture, forestry and fishing industry rose 8.2 percent, boosted by crops and animal production. 

Mining output advanced 1.6 percent, following a 3.1 percent decrease in the three months to June. Meanwhile, the manufacturing sector contracted for the third consecutive quarter by 3.4 percent due to lower production in the following divisions: basic iron and steel, non-ferrous metal products, metal products and machinery; petroleum, chemical products, rubber and plastic products; and wood and wood products, paper, publishing and printing.
Year-on-year, the economy advanced 1.4 percent, following a 1.3 percent increase in the previous period.

South Africa GDP Up 1.4%


Statistics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
11/25/2014 12:45:46 PM