South African economy grows by 0.2 percent in Q3Staff Writer | December 8, 2016
South Africa's gross domestic product (GDP) growth rate was 0.2 percent in Q3 2016, Statistics South Africa (Stats SA) said.
Africa Statistics South Africa:
Mining and quarrying increased by 5.1 percent, largely as a result of higher production in the mining of "other" metal ores, in particular iron ore.
In monetary terms, the nominal GDP was estimated at 1,087 billion rand (131 billion U.S. dollars) for Q3, which is 18 billion rand (about 1.3 billion dollars) more than Q2.
Four industries contracted in the third quarter, namely agriculture, forestry and fishing (-0.3 percent); manufacturing (-3.2 percent); electricity, gas and water (-2.9 percent); and trade, catering and accommodation (-2.1 percent).
The agriculture, forestry and fishing industry has been in decline for seven consecutive quarters. ■