Slight increase in GDP
South Africa's gross domestic product (GDP) grew by 0,2% in the third quarter of 2016.
According to Stats SA, the main contributors to the GDP growth rate were the mining and quarrying industry; finance, real estate and business services; and general government services.
Mining and quarrying increased by 5,1%, largely as a result of higher production in the mining of 'other' metal ores, in particular iron ore.
Four industries contracted in the third quarter, namely agriculture, forestry and fishing (-0,3%); manufacturing (-3,2%); electricity, gas and water (-2,9%); and trade, catering and accommodation (-2,1%). The agriculture, forestry and fishing industry has been in decline for seven consecutive quarters.
Expenditure on real gross domestic product grew by 0,5% in the third quarter of 2016.
"Household final consumption expenditure increased by 2,6% in the second quarter. Apart from the 'other' category the increase was mainly the result of expenditure on health services, which increased by 10,0% and contributed 0,7 of a percentage point to growth in HFCE," says Stats SA.