{"id":13065,"date":"2020-03-04T09:52:19","date_gmt":"2020-03-04T07:52:19","guid":{"rendered":"http:\/\/www.statssa.gov.za\/?p=13065"},"modified":"2022-09-16T10:29:09","modified_gmt":"2022-09-16T08:29:09","slug":"gdp-in-the-fourth-quarter-of-2019-decreased-by-14","status":"publish","type":"post","link":"https:\/\/www.statssa.gov.za\/?p=13065","title":{"rendered":"GDP in the fourth quarter of 2019 decreased by 1,4%"},"content":{"rendered":"

Press statement\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Embargo: Tuesday 3 March 2020, 11:30<\/strong><\/p>\n

GDP in the fourth quarter of 2019 decreased by 1,4%<\/strong><\/p>\n

Gross domestic product (measured by production)<\/strong><\/p>\n

South Africa\u2019s gross domestic product (GDP) decreased by 1,4% in the fourth quarter of 2019.1
\nThe transport, storage and communication industry decreased by 7,2% and contributed -0,6 of a percentage point to GDP growth. Decreased economic activity was reported for land and air transport, as well as transport support services.<\/p>\n

The trade, catering and accommodation industry decreased by 3,8% and contributed -0,5 of a percentage point to GDP growth. Decreased economic activity was reported for wholesale and motor trade and accommodation.<\/p>\n

The manufacturing industry decreased by 1,8% and contributed -0,2 of a percentage point to GDP growth. The divisions that made the largest contributions to the decrease were motor vehicles, parts and accessories and other transport equipment; and wood and wood products, paper, publishing and printing.<\/p>\n

The construction industry decreased by 5,9% and contributed -0,2 of a percentage point to GDP growth. Decreases were reported for residential and non-residential buildings and construction works.<\/p>\n

The agriculture, forestry and fishing industry decreased by 7,6% and contributed -0,2 of a percentage point to GDP growth. The decreased was mainly due to a fall in the production of field crops and horticultural products.<\/p>\n

In contrast, finance, real estate and business services increased by 2,7% and contributed 0,6 of a percentage point to GDP growth.<\/p>\n

The mining and quarrying industry increased by 1,8% and contributed 0,1 of a percentage point to GDP growth. Increased production was reported for platinum group metals, iron ore and gold.<\/p>\n

 <\/p>\n

Expenditure on GDP<\/strong>
\nExpenditure on real gross domestic product fell by 1,2% in the fourth quarter of 2019.<\/p>\n

Household final consumption expenditure increased by 1,4% in the fourth quarter, contributing 0,8 of a percentage point to total growth. The main positive contributors to growth in HFCE were expenditures on clothing and footwear (8,5% and contributing 0,5 of a percentage point), the \u2018other\u2019 category (3,6% and contributing 0,4 of a percentage point) and household furnishings and equipment (3,5% and contributing 0,3 of a percentage point). Expenditure on transport activities declined and contributed negatively to growth in HFCE.<\/p>\n

Final consumption expenditure by general government decreased by 0,2%. A decrease in employment was reported in the fourth quarter.<\/p>\n

Gross fixed capital formation decreased by 10,0%. The main contributors to the decrease were machinery and equipment3, transport equipment, non-residential buildings and other assets. Weak imports of machinery and equipment contributed to the decrease in gross fixed capital formation.<\/p>\n

There was a R40,3 billion drawdown of inventories in the fourth quarter of 2019. Large decreases were reported for the mining industry and trade.<\/p>\n

Net exports contributed positively to growth in expenditure on GDP in the fourth quarter. Exports of goods and services were up 2,3%, largely influenced by increase trade in precious metals and stones.<\/p>\n

Imports of goods and services decreased by 8,5%, driven largely by a decrease in imports of machinery and equipment as well as vehicles and transport equipment.
\nKey findings for the annual estimates of 2019<\/strong><\/p>\n

Real annual GDP increased by 0,2% in 2019 following an increase of 0,8% in 2018<\/strong><\/p>\n

According to the latest preliminary indicators, real GDP increased by 0,2% in 2019 following an increase of 0,8% in 2018.<\/p>\n

The annual real GDP growth rate of 0,2% in 2019 was primarily led by increased economic activity in finance, real estate and business services, which contributed 0,5 of a percentage point based on growth of 2,3%; general government services, which contributed 0,3 of a percentage point based on growth of 1,7%; and personal services, which contributed 0,1 of a percentage point based on growth of 1,0%.<\/p>\n

The agriculture, forestry and fishing industry decreased by 6,9% in 2019, and the mining and quarrying industry declined by 1,9% in 2019
\nExpenditure on GDP in 2019<\/strong>
\nExpenditure on GDP increased by 0,1% in 2019, decelerating from an increase of 0,7% in 2018. Household consumption increased by 1,0% and contributed 0,6 of a percentage point, and government
\nconsumption increased by 1,5% and contributed 0,3 of a percentage point.<\/p>\n

The main positive contributors to growth of 1,0% in HFCE were expenditure on food (2,1% and contributing 0,4 of a percentage point), the \u2018other\u2019 category (2,1% and contributing 0,3 of a percentage point) and household furnishings and equipment (1,8% and contributing 0,2 of a percentage point).<\/p>\n

Gross fixed capital formation decreased by 0,9%, contributing -0,2 of a percentage point to total growth, and changes in inventories contributed -0,1 of a percentage point to total growth.<\/p>\n

Net exports contributed -0,6 of a percentage point to growth in expenditure on GDP.<\/p>\n

Media enquiries:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/h2>\n

Trevor Oosterwyk\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n

Chief Director: Communications\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0 \u00a0<\/p>\n

trevoro@statssa.gov.za\u00a0\u00a0\u00a0<\/a>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n

012 310 4687 \/ 082 908 9104\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Press statement\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Embargo: Tuesday 3 March 2020, 11:30 GDP in the fourth quarter of 2019 decreased by 1,4% Gross domestic product (measured by production) South Africa\u2019s gross domestic product (GDP) decreased by 1,4% in the fourth quarter of 2019.1 The transport, storage and communication industry   read more »<\/a><\/p>\n

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