South Africa’s real gross domestic product (GDP) at market prices on a quarter on quarter (q\/q) seasonally adjusted annualised (saa) basis rose by 3.2% in the second quarter of 2012 from an unrevised 2.7% in the first quarter\u201a Statistics SA data showed on Tuesday.<\/p>\n
GDP growth was expected to rise to 3.3%\u201a according to a poll of leading economists by I-Net Bridge. The range of forecasts was from 1.6 % q\/q to 4.3%.<\/p>\n
The main contributors to the increase in economic activity for the second quarter of 2012 were the mining and quarrying industry\u201a which accounted for 1.5 percentage points of the increase; finance\u201a real estate and business services\u201a which added 0.5 of a percentage point; and the wholesale\u201a retail and motor trade\u201a catering and accommodation industry\u201a which contributed 0.4 of a percentage point.<\/p>\n
Negative contributions by other industries included manufacturing\u201a which subtracted 0.2 of a percentage point and the electricity\u201a gas and water industry which subtracted 0.1 of a percentage point.<\/p>\n
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