GDP rises by 0.7%

2013-11-26 12:27

South Africa’s real GDP grew by 0.7% during the third quarter of this year, according to Stats SA.

The main contributors to the increase in the economic activity were mining and quarrying, with 0.6 of a percentage point; and finance, real estate and business services contributing 0.3 of a percentage point.

Wholesale, retail and motor trade; catering and accommodation; and transport, storage and communication each contributed 0.2 of a percentage point.

The manufacturing industry recorded a negative contribution of -1.0 of a percentage point.

“Now you can see the impact of the strike in the manufacturing industry,” Stats SA executive manager of national accounts Gerhardt Bouwer said.

“If that [contribution] could have been zero then we should have had a higher economic growth. It just shows what the impact is on the economy.”

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