ECONOMY
Economy grows by 4.2 percent
Posted Wed, 30 Nov 2005
The South African economy grew by an annualised rate of 4.2 percent from the second to the third quarters of this year, Statistics SA said on Tuesday.
This followed growth rates of 5.4 percent and 4.6 percent in gross domestic product (GDP) in the second and first quarters.
The 4.2 percent rate was mainly due to increases in value added by the manufacturing industry (10.2 percent); the trade, hotels and restaurants industry (6.3 percent) and the finance, real estate and business services industry (4.5 percent), Stats SA said.
These three industries each contributed 0.9 percentage points to the overall growth figure.
GDP for the non-agricultural industries rose by 4.2 percent in the third quarter, following rises of 4.7 percent and 5.1 percent in the first and second quarters.
Overall GDP for the first nine months of the year rose by 5.1 percent, compared to the same period last year.
Stats SA also provided GDP figures for the nine
provinces for 2004. Compared to 2003, the Western Cape's economy grew the fastest at 5.3 percent, followed by KwaZulu-Natal and the North West with 4.9 percent each. Limpopo had the lowest growth rate of 2.7 percent.
Sapa
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