South Africa’s GDP growth in the fourth quarter of 2015 was higher than expected – but not by much.<\/p>\n
Gross Domestic Product for the 4th quarter of 2015 came in at 0.6% year-on-year, above expectations of 0.5%, according to Stats SA.<\/p>\n
This was boosted by an\u00a0increase in economic activity\u00a0in the\u00a0wholesale, retail and motor trade; catering and accommodation industry and finance, real estate and business services during the quarter..<\/p>\n
Full year growth was at 1.3% – on par with the latest estimates from government, and higher than previous projections of 1.1% or 1.2%. The nominal GDP at market prices in 2015 was R4 trillion – R194 billion more than in 2014.<\/p>\n
South Africa is expected to face a tough economic year, with growth for 2016 expected to be under 1%. The IMF and the World Bank expect growth at 0.7% and 0.6%, respectively, while the SA government anticipated growth at 0.9% – down significantly from previous projections of 1.7%.<\/p>\n
The main contributors to the increase in economic activity in 2015 were finance, real estate and business services (0.6 of a percentage point), the mining and quarrying industry and the wholesale, retail and motor trade; catering and accommodation industry (each contributing 0.2 of a percentage point).<\/p>\n
A negative contribution was recorded by the agriculture, forestry and fishing industry (-0.2 of a percentage point).<\/p>\n
These were the growth markets in the South African economy in 2015:<\/p>\n
The largest industries, as measured by their nominal value added in 2015, were as follows:<\/p>\n
Moody\u2019s worried about SA growth<\/a><\/strong><\/p>\n This map shows South Africa\u2019s projected economic growth to 2024<\/a><\/strong><\/p>\n South Africa\u2019s economic growth prospects cut to under 1%<\/a><\/strong><\/p>\n