GDP decreases by 0.2% in third quarter

JOHANNESBURG - South Africa’s GDP decreased by 0,2 percent in the third quarter of this year.

The agriculture, forestry and fishing industry decreased by 9,6 percent driven primarily by decreased economic activity in field crops, animal products and horticulture products.

The manufacturing industry decreased by 1.3 percent.

READ: Quarterly GDP expected to stagnate

Eight of the ten manufacturing divisions reported negative growth rates in the third quarter.

The food, beverages and tobacco division made the largest contribution to the decrease.

The construction industry decreased by 2,8 percent while mining declined by 1,1 percent.

Even though there were lower levels of power cuts during the period July to September, this did not translate to better economic growth.