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SA records 3.1 percent GDP growth in Q4 of 2017

SA records 3.1 percent GDP growth in Q4 of 2017

The South African economy grew by 3.1 percent during the final quarter of 2017, capping what was a much improved overall performance during the past year.

This follows an increase of 2,3 percent in the third quarter of 2017.

The findings were made by Statistics South Africa, which released the fourth quarter Gross Domestic Product (GDP) figures on Tuesday morning. In that statistical publication it was also revealed that South Africa recorded GDP growth of 1.3 percent in 2017.

That is up from the 0.6 percent figure recorded in 2016 - a period of stagnation for the South African economy.

"The largest positive contributor to growth in GDP in the fourth quarter was the agriculture, forestry and fishing industry, which increased by 37,5 percent and contributed 0,8 of a percentage point to GDP growth," read the report released by StatSA.

"The industry's growth of 37,5 percent in the fourth quarter of 2017 was mainly the result of higher production of animal products.

"The trade, catering and accommodation industry increased by 4,8 percent and contributed 0,6 of a percentage point to GDP growth. Increased economic activity was reported mainly in wholesale, retail and motor trade," continued the report.

Also among the solid performers during the period under review was manufacturing, finance and real estate. The real estate industry also expects significant improvement in 2018 - building on the momentum that has been created.

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