{"id":303364,"date":"2019-03-05T11:41:56","date_gmt":"2019-03-05T09:41:56","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=303364"},"modified":"2019-03-06T09:59:24","modified_gmt":"2019-03-06T07:59:24","slug":"south-africas-gdp-growth-for-2018-crawls-to-0-8","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/303364\/south-africas-gdp-growth-for-2018-crawls-to-0-8\/","title":{"rendered":"South Africa’s GDP growth for 2018 crawls to 0.8%"},"content":{"rendered":"

Stats SA has published its latest GDP data, showing that South Africa’s economy grew at o.8% in 2018, slightly beating estimates.<\/p>\n

Economists and analysts expected the country’s GDP figures to be around 0.6% and 0.7%.<\/p>\n

Following a technical recession in 2018, most forecasts were revised down from the 1.2%-1.5% range, as the economic realities set in despite upbeat talk around political change in the country.<\/p>\n

Third quarter data surprised on the upside, with the latest fourth quarter data showing the economy was bolstered by the communications and manufacturing industries.<\/p>\n

In the fourth quarter of 2018, GDP output was up 1.4% from the third quarter, and up 1.1% from the fourth quarter of 2017.<\/p>\n

\"\"<\/a><\/p>\n

The manufacturing industry expanded by 4.5%.<\/p>\n

The divisions that made the largest contributions to the increase were petroleum, chemical products, rubber and plastic products; motor vehicles, parts and accessories and other transport equipment; and food and beverages, Stats SA said.<\/p>\n

Finance, real estate and business services increased by 2.7% in the fourth quarter. Increased economic activity was reported for financial intermediation, insurance, auxiliary activities and real estate.<\/p>\n

The transport, storage and communication industry increased by 7.7%, as a result of increases in land transport and transport support services.<\/p>\n

In contrast, the trade, catering and accommodation industry decreased by 0.7%. Decreased economic activity was reported in wholesale trade, motor trade and catering and accommodation.<\/p>\n

Mining decreased by 3.8% and contributed -0.3 of a percentage point to GDP growth, and construction decreased by 0.7%. General government services decreased by 0.6%.<\/p>\n

\n

Read: South Africa\u2019s economic growth seen stagnant<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Stats SA has published its latest GDP data, showing that South Africa’s economy grew at o.8% in 2018, slightly beating estimates.<\/p>\n","protected":false},"author":10,"featured_media":168963,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[26,1809],"class_list":["post-303364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-headline","tag-stats-sa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/303364","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=303364"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/303364\/revisions"}],"predecessor-version":[{"id":303698,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/303364\/revisions\/303698"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/168963"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=303364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=303364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=303364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}