{"id":9215,"date":"2016-12-06T09:58:14","date_gmt":"2016-12-06T07:58:14","guid":{"rendered":"http:\/\/www.statssa.gov.za\/?p=9215"},"modified":"2016-12-06T10:05:49","modified_gmt":"2016-12-06T08:05:49","slug":"gdp-in-the-third-quarter-of-2016-grew-by-02","status":"publish","type":"post","link":"https:\/\/www.statssa.gov.za\/?p=9215","title":{"rendered":"GDP in the third quarter of 2016 grew by 0,2%"},"content":{"rendered":"

Press statement \u00a0 \u00a0 \u00a0<\/strong> \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 \u00a0Embargo: Tuesday 6 December 2016, 09:30<\/strong><\/p>\n

\u00a0GDP in the third quarter of 2016 grew by 0,2%<\/strong><\/p>\n

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

South Africa\u2019s gross domestic product (GDP) growth rate was 0,2% in the third quarter of 2016.1
\nThe main contributors to the GDP growth rate were the mining and quarrying industry; finance, real estate and
\nbusiness services; and general government services. Mining and quarrying increased by 5,1%, largely as a result
\nof higher production in the mining of \u2018other\u2019 metal ores, in particular iron ore.<\/p>\n

Four industries contracted in the third quarter, namely agriculture, forestry and fishing (-0,3%); manufacturing
\n(-3,2%); electricity, gas and water (-2,9%); and trade, catering and accommodation (-2,1%). The agriculture,
\nforestry and fishing industry has been in decline for seven consecutive quarters.<\/p>\n

Expenditure on GDP2<\/strong><\/p>\n

Expenditure on real gross domestic product grew by 0,5% in the third quarter of 2016.<\/p>\n

Household final consumption expenditure increased by 2,6% in the second quarter. Apart from the \u2018other\u2019 category
\nthe increase was mainly the result of expenditure on health services, which increased by 10,0% and contributed
\n0,7 of a percentage point to growth in HFCE.<\/p>\n

Government final consumption expenditure increased by 2,1%.<\/p>\n

Gross fixed capital formation decreased by 1,0%. The main contributor to the decline was transport equipment.<\/p>\n

There was a R20 billion build-up of inventories in the third quarter (following a R28 billion drawdown in the second
\nquarter), which contributed 6,3 percentage points to total growth.<\/p>\n

Net exports contributed negatively to total expenditure on GDP. Exports decreased by 26,4%, mainly because of
\nlower exports of precious metals and transport equipment. Imports decreased by 4,9%, mainly because of lower
\nimports of machinery and electrical equipment.<\/p>\n\n\n\n\n\n\n\n\n
Media enquiries: \u00a0<\/strong>\u00a0<\/b><\/td>\n\u00a0Technical enquiries:<\/strong><\/td>\n<\/tr>\n
\u00a0<\/strong><\/td>\n<\/td>\n<\/tr>\n
Trevor Oosterwyk<\/td>\nMichael Manamela<\/td>\n<\/tr>\n
Chief Director: Communications<\/td>\nChief Director: National Accounts<\/td>\n<\/tr>\n
trevoro@statssa.gov.za<\/a><\/td>\nmichaelm@statssa.gov.za<\/a><\/td>\n<\/tr>\n
012 310 4687 \/ 082 908 910<\/td>\n012 310 8520 \/ 082 888 2205<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

1<\/strong> Unless otherwise specified, quarter-on-quarter growth rates are seasonally adjusted and annualised. All growth rates are calculated on
\nthe basis of series at constant prices. The GDP estimates are preliminary and may be revised.
\n2<\/strong> The figures showing growth in expenditure on GDP exclude the residual, calculated as the difference between GDP measured by
\nproduction and the sum of the expenditure components. For more detail see Table 30 on the Stats SA website.<\/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 \u00a0Embargo: Tuesday 6 December 2016, 09:30 \u00a0GDP in the third quarter of 2016   read more »<\/a><\/p>\n

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