South Africa's gross domestic product growth rate was 0.2% in the third quarter of 2016.
Statistics South Africa said Tuesday that "the main contributors to the GDP growth rate were the mining and quarrying industry; finance, real estate and business services; and general government services. Mining and quarrying increased by 5.1%, largely as a result of higher production in the mining of 'other' metal ores, in particular iron ore."
"Four industries contracted in the third quarter, namely agriculture, forestry and fishing (-0.3%); manufacturing (-3.2%); electricity, gas and water (-2.9%); and trade, catering and accommodation (-2.1%). The agriculture, forestry and fishing industry has been in decline for seven consecutive quarters," Stats SA said.
"Expenditure on real gross domestic product increased by 0.5% in the third quarter of 2016, following an increase of 3.7% in the second quarter of 2016."
Stats SA said "household final consumption expenditure increased by 2.6% in the third quarter, contributing 1.6 percentage points to total growth. Government final consumption expenditure increased by 2.1%, contributing 0.4 of a percentage point.
"Gross fixed capital formation decreased by 1.0%, contributing -0.2 of a percentage point. Changes in inventories in the third quarter contributed 6.3 percentage points to total growth.
Exports decreased by 26.4% and imports decreased by 4.9%. Net exports contributed -7.5 percentage points to total growth.
