South Africa's GDP growth rate declined by 2.2% in the first quarter of 2018.
Statistics South Africa said on Tuesday that the largest negative contributor to growth in GDP in the first quarter was the manufacturing industry, which decreased by 6.4% and contributed -0.8 of a percentage point to GDP growth.
“The mining and quarrying industry decreased by 9.9% and contributed -0.8 of a percentage point. The agriculture, forestry and fishing industry decreased by 24.2%, and contributed -0.7 of a percentage point to GDP growth,” Stats SA said in a statement.
“The trade, catering and accommodation industry decreased by 3.1%. Decreased economic activity was reported in trades, catering and accommodation divisions.”
Stats SA said that the “finance, real estate and business services increased by 1.1% in the first quarter. Increased economic activity was reported for insurance and auxiliary activities and real estate activities.”
“General government services increased by 1.8%, attributed to an increase in employment numbers,” Stats SA said.
