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Finance, business services and property still best performers in slow GDP growth

2 Mar 2016

South Africa's 2015 fourth quarter GDP growth figures hold little or no surprises, with the only positive movement being finance, real estate and business services. Although there has been year-on-year growth of 2.6% in these sectors, it has begun to slow from the previous quarter.

The weakest links

On the other hand, the weakest performing industries were agriculture gross value added, with a year-on-year decline of -14.1%, as drought takes its toll, mining with a -0.6% decline, manufacturing with a -0.8% decline, and an electricity contraction of -2.9%.

Finance, business services and property still best performers in slow GDP growth

Overall figures

Overall, real GDP growth was slightly positive to the tune of +0.6%, from a previous quarter’s +0.7%.the quarter-on-quarter seasonally-adjusted and annualised basis.

However, the broad multi-year growth slowdown since 2012 continues. The rate slowed further to 0.6% in the 4th quarter from 1.0% year-on-year in the 3rd quarter. This is the slowest year-on-year growth since the final quarter of 2009.