http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.34Change: 0.02
R/$ = 11.16Change: 0.02
Au 1222.95 $/ozChange: 1.52
Pt 1336.00 $/ozChange: 5.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Aug 28, 2012

SA quarterly economic growth of 3.2% buoyed by mining

Back
Agriculture|Africa|Gas|Lonmin|Nedbank|Platinum|Stats SA|Water|Africa|Marikana Mine|Electricity|Finance|Manufacturing|Manufacturing Industry|Mining|Month Platinum Producer|Real Estate|Real Gross Domestic Product|Retail|Services|Water|South Africa
Agriculture|Africa|Platinum|Water|Africa||Manufacturing|Mining|Services|Water|
agriculture|africa-company|gas-company|lonmin|nedbank|platinum|stats-sa|water-company|africa|marikana-mine|electricity|finance|manufacturing|manufacturing-industry|mining|month-platinum-producer|real-estate|real-gross-domestic-product|retail|services|water|south-africa-region
© Reuse this



Increased economic activity during the second quarter of 2012 resulted in a 3.2% jump in seasonally adjusted real gross domestic product (GDP), compared with the 2.7% expansion recorded in the first quarter, Statistics South Africa (Stats SA) said on Tuesday.

In its quarterly GDP report, Stats SA stated that the mining and quarrying sector, which grew by 31.2%, contributed 1.5 percentage points to the second-quarter GDP increase.

Stanlib economist Kevin Lings stated that, had the mining sector not rebounded during the second quarter, the growth rate would have reached a more modest 1.7% annualised quarter-on-quarter growth.

Banking group Nedbank warned the mining sector was expected to come under renewed pressure, given the weak global economic growth and the disruptions earlier this month at platinum producer Lonmin’s Marikana mine.

The sector, with its current illegal strike action in platinum, would be an ongoing contributor of volatility and offset third-quarter GDP growth, agreed Nomura International economist Peter Attard-Montalto.

The finance, real estate and business services sector added 0.5 percentage points and the wholesale, retail and motor trade, catering and accommodation sectors added 0.4 percentage points.

The manufacturing industry impacted GDP negatively with -0.2 percentage points after a 1% decline in growth, while -0.1 percentage points emerged from the electricity, gas and water industry following 4.2% lower growth.

Manufacturing would continue to be impacted by weak external demand, while agriculture, which experienced a 5.8% growth during the period, would continue to improve.

“We still expect growth to slow through the second half as contagion from the external sector spreads, but the economy is clearly leaving the first half at a much higher base than we thought even excluding mining,” commented Attard-Montalto.

Lings said that South Africa’s GDP growth was forecast to grow by 2.6% in 2012, rising to just over 3% in 2013, “assuming no further significant weakening in the global economy”.

Overall, he added, South Africa had now experienced 12 consecutive quarters of fairly reasonable, positive growth.
 

Edited by: Mariaan Webb
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
 
Latest News
The Standard Bank Group has been named one of the world’s greenest banks by Bloomberg Markets, ranked eighteenth out of 20 global finance institutions recognised for their investments in green-energy projects and efforts to reduce their own waste and carbon...
The Department of Environmental Affairs (DEA) was considering establishing an air quality index, to make information on the quality of ambient air in South Africa more accessible, DEA national air quality officer Dr Thulie Mdluli said on Tuesday. She noted that the...
Patricia de Lille, PJ Rabie and Dominic Chennells
In a boost for renewable energy, the City of Cape Town has signed its first small-scale embedded electricity generation contract with Black River Park Investments, an office park in Observatory.  The 74 000 m2 office park uses large-scale solar power systems to...
More
 
 
Recent Research Reports
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move road...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
Real Economy Insight: Road and Rail 2014 (PDF Report)
This six-page brief covers key developments in the road and rail industries over the past 12 months, including details of South Africa’s road and rail network and prospects for both sectors.
 
 
 
 
 
This Week's Magazine
MANUFACTURING CAPABILITY Reliable Transformers designs and manufactures dry-type and oil-filled power and distribution transformers up to 3.5 MVA
While Ekurhuleni-based transformer manufacturer Reliable Transformers currently designs, manufactures and tests its products according to the SANS 780 specifications for distribution transformers and other applicable transformer specifications, it is working towards...
GHAREEB SAAD Kaspersky Lab products contain strong heuristics engines that monitor suspicious file execution to detect attacks
Global endpoint security solutions company Kaspersky Lab has introduced new measures to prevent cyber criminals from accessing sensitive data, alongside its malware-signature and heuristic device analysis detection methods. Threats to mobile devices have increased...
MICHAEL FLETCHER Real-time information available to government when citizens use publicly funded Wi-Fi networks will enable it to communicate with citizens and provide services
To ensure uptake and a positive impact, Wireless Fidelity (Wi-Fi) networks in cities must be provided at schools, community centres and commercial centres to enable citizens and government to access information that will improve access to and delivery of services....
Eco-estate Monaghan Farm, located near Lanseria airport, north-west of Johannesburg, has taken a new approach to modern living and sustainability with its 517 ha development, dedicated to farm living.
Forklift and lift-truck distributor Goscor Lift Hi-Reach launched the Genie SX-180, the tallest self-propelled super boom in Africa, in Johannesburg last month. “As the official distributor of the well-known Genie range of equipment in Southern Africa, we are pleased...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks