afrol News, 24 November - South Africa has registered an increase in real quarterly gross domestic product (GDP) for the third quarter of 2009, an announcement by Statistics South Africa has said.

“The seasonally adjusted real GDP at market prices for the third quarter of 2009 increased by an annualised rate of 0,9 percent compared with the second quarter of 2009, following decreases of real annualised economic growth rates of 7,4 and 2,8 percent in the first and second quarters of 2009 compared with the fourth quarter of 2008 and the first quarter of 2009 respectively,” the government statistics agency in its report released today.

Stats SA said the main contributors to the low growth in economic activity for the third quarter of 2009 were the manufacturing industry, which contributed 1,1 percentage points; the general government services, contributing 0,7 of a percentage point, and the construction industry and personal services each contributing 0,2 of a percentage point.

Negative contributions by other industries included the finance, real estate and business services and mining and quarrying industry, each contributing -0,3 of a percentage point; agriculture, forestry and fishing, contributing -0,2 of a percentage point, and wholesale and retail trade hotels and restaurants industry, which contributed -0,1 of a percentage point, Stats SA said.

The agency further said the unadjusted real GDP at market prices for the first nine months of 2009 decreased by -1,8 per cent compared with the first nine months of 2008.

“According to the latest preliminary indicators, independent annual real estimates of GDP for 2008 increased by 3,7 percent compared to 2007, Stats SA said, adding that the main contributors to the increase in economic activity in 2008 were the finance, real estate and business services industry (1,6 percentage points); general government services and manufacturing industry (each contributing 0,5 of a percentage point); the transport, storage and communication (0,4 of a percentage point); construction industry (contributing 0,3 of a percentage point); agriculture, forestry and fishing industry and personal services (each contributing 0,2 of a percentage point).

By staff writer

© afrol News

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