GDP grew by 0.4% in the second quarter
South Africa’s GDP increased by 0.4% in the second quarter, with the manufacturing industry having increased by 1.1%, contributing 0.1 of a percentage point to the GDP growth.
Six of the ten manufacturing divisions reported positive growth rates in the second quarter. The motor vehicles, parts and accessories and other transport equipment; food and beverages; and basic iron and steel, non-ferrous metal products, metal products and machinery made the largest contributions.
Further, the finance, real estate and business services industry increased by 1.3%, contributing 0.3 of a percentage point to the GDP growth.
Increased economic activities were reported for financial intermediation, auxiliary activities, real estate activities and other business services, Statistics South Africa reports.
The trade, catering and accommodation industry increased by 1.2%, contributing 0.1 of a percentage point. Increased economic activities were reported for wholesale trade, retail trade and accommodation.
The electricity, gas and water industry increased by 3.1%, contributing 0.1 of a percentage point. This was largely owing to increases in electricity production and consumption, as well as water consumption.
The transport, storage and communication industry decreased by 2.2%, contributing -0.2 of a percentage point. Decreased economic activities were reported for land transport and transport support services.
The agriculture, forestry and fishing industry decreased by 2.1%, contributing -0.1 of a percentage point. This was primarily owing to decreased economic activities reported for field crops and animal products.
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