South Africa GDP Growth Slows to 1.8% YoY in Q3

In the third quarter of 2013, South African economy slowed to a 1.8 percent annual growth rate, down from 2.3 percent in the previous three-month period, as the recover in mining and quarrying was not enough to offset a drop in manufacturing.

The most notable performances of industries in the third quarter of 2013 compared with the third quarter of 2012 was for finance, real estate and business services which rose 3.9 percent.

The mining and quarrying industry increased 2.7 percent, recovering from a 2.8 percent contraction in the previous quarter. The construction industry grew 2.4 percent (2.2 percent in the June quarter) and transport, storage and communication rose 2.1 percent (from 1.8 percent).

The agriculture, forestry and fishing sector shrank by 2.9 percent and manufacturing dropped by 0.4 percent.

Quarter-on-quarter, the economy expanded an annualized 0.7 percent, the lowest growth rate since the recession in 2009.

The GDP at market prices for the first nine months of 2013 increased by 1.9 percent compared with the first nine months of 2012.  

South Africa GDP Growth Slows to 1.8% YoY in Q3

Statistics South Africa | Joana Taborda |
11/26/2013 11:10:31 AM