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South Africa's GDP up 0.7% in Q3
South Africa's GDP up 0.7% in Q3

South Africa's GDP up 0.7% in Q3

FMCG SUPPLIER NEWS - Dec 17th 2013, 08:28

South Africa's real gross domestic product (GDP) grew by 0.7 percent during the third quarter of 2013, Statistics SA (Stats SA) said on Tuesday. 

The main contributors to the increase in the economic activity were mining and quarrying, with 0.6 of a percentage point, and finance, real estate and business services contributing 0.3 of a percentage point.

Wholesale, retail and motor trade; catering and accommodation, and transport, storage and communication each contributed 0.2 of a percent point.

The manufacturing industry recorded a negative contribution of -1.0 of a percentage point.

"Now you can see the impact of the strike in the manufacturing industry," Stats SA executive manager of national accounts Gerhardt Bouwer said.

"If that [contribution] could have been zero then we should have had a higher economic growth. It just shows what the impact is on the economy."2013 Copyright, BusinessTech. All right reserved  

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