SA's economy rallies in Q3, grows 2%
The growth was largely attributed to strong performance by the agricultural, mining and manufacturing sectors
Risenga Maluleke (pictured), in his first address as South Africa’s new Statistician-General, said the largest contributor to growth in the third quarter was agriculture, with a 44.2 percent share. Mining and quarrying, and manufacturing were also significant contributors to the growth, the former increasing by 6.6 percent, contributing 0.5 percent to GDP growth – South Africa’s nominal GDP was R1 168 billion for the quarter.
Maluleke showed optimism about the figures, saying:
“We can see that expenditure and production trends are the same. We might be more worried if trends are not the same.”
The figures are good news for the country, which has seen dismal growth in the last few years.