Tuesday, 5 December 2017

South Africa's GDP grew by 2% due to agriculture.

File picture: Philimon Bulawayo
JOHANNESBURG - South Africa’s economy expanded 2% in the third quarter of the year down from an upwardly revised 2.8% recorded in the second quarter – but still beat market expectations of a 1.5% rise.

The agricultural sector showed the biggest growth in the quarter under review surging 14.9% quarter on quarter- its biggest quarterly growth in 21 years.  

Higher production of field crops and horticultural products did most of the heavy lifting in the agricultural sector. 

Statistics South Africa said the nominal gross domestic product (GDP) grew R1.2 trillion in the third quarter, R22bn more than in the second quarter. 

Full story at IOL.

By Kabelo Khumalo.

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