South Africa’s GDP declined by 0.3% in the fourth quarter of 2016

Stats SA has released the fourth quarter GDP data for 2016, showing a decline of 0.3% in economic activity in what is traditionally one of the most economically active periods of the year.

Real gross domestic product (measured by production) decreased by 0.3% in the fourth quarter of 2016, following an increase of 0.4% in the third quarter of 2016.

The largest negative contributor to growth in GDP in the fourth quarter was the mining and quarrying industry, which decreased by 11.5% and contributed -0.9 of a percentage point to GDP growth.

This was followed by manufacturing, which decreased by 3.1% and contributed -0.4 of a percentage point.

The trade, catering and accommodation industry and finance, real estate and business services increased by 2.1% and 1.6% respectively, and each contributed 0.3
of a percentage point to GDP growth.

The transport, storage and communication industry increased by 2.6% and contributed 0.2 of a percentage point to GDP growth.


Read: How and why we are moving beyond GDP as a measure of human progress

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South Africa’s GDP declined by 0.3% in the fourth quarter of 2016