• Home
  • About Us
  • Contact Us
  • Submit Press Release
  • Sitemap
Africa News Wire
  • General
  • Business Affairs
  • Lifestyle
  • Health Care
  • Sports
  • Legal
  • Study
  • National
  • Press Releases
  • Home
  • Business Affairs
  • GDP rises by 3.2% in second quarter

GDP rises by 3.2% in second quarter

WebDesk
August 28, 2012August 31, 2012 No Comments

Pretoria: South Africa’s real gross domestic product at market prices increased by 3.2% in the second quarter of 2012, up from 2.7% in the first quarter, Statistics South Africa (Stats SA) said on Tuesday.

Stats SA said the contributors to the increase in economic activity were mining and quarrying contributing 1.5%, and finance (the largest contributor to economic growth), real estate and business services contributing 0.5%, the wholesale, retail and motor trade; catering and accommodation industry contributed 0.4%.

Meanwhile, general government services contributed 0.3% while the transport, storage and the communication industry contributed 0.2%.

GDP manager at Stats SA Kedibone Mabaso said economic activity in the mining and quarrying industry reflected positive growth due to higher production in the mining of other metal ores including platinum, other mining and quarrying and coal. The slower growth in finance, real estate and business services was because of a decrease in banking services, among others.

The electricity, gas and water industry at -0.2% as well as the manufacturing industry contributed negatively to GDP.

Manufacturing showed negative growth of 1%. The reasons for this could be attributed to lower production in basic iron and steel as well as in wood and wood products, noted Stats SA.

The unadjusted real GDP at market prices increased by 3% year-on-year, while the unadjusted real GDP at market prices for the first six months of 2012 increased by 2.5% compared to the first six months of 2012.

For the second quarter of 2012, the nominal value added during the second quarter of 2012 was R788 billion. This is R23 billion more than in the first quarter of 2012.

The consensus among analysts was that GDP would rise to 3.3%.

Post navigation

Good progress made in fixing Ben Schoeman sinkhole
SA water infrastructure needs investment

Related Articles

Upgrading Caribbean disaster preparedness and response capacities: Caribbean nations work together for regional resilience

- Business Affairs
January 18, 2021

Egypt: Climate risk country profile

- Business, Business Affairs
January 18, 2021

Air travel down 60 per cent, as airline industry losses top $370 billion: ICAO

- Business Affairs
January 15, 2021

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

News Search

Page Links

  • Home
  • About Us
  • Contact Us
  • Submit Press Release
  • Sitemap

Advertisement

MonthlyArchives

Advertisement

News Archives

January 2021
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Dec    
© Copyright 2021 - Africa News Wire. All Rights Reserved
  • Home
  • About Us
  • Contact Us
  • Submit Press Release
  • Sitemap