Key findings: P0441 - Gross Domestic Product (GDP), 3rd Quarter 2010
The GDP figure for the (3rd quarter 2010 2,6% q/q )
Real gross domestic product (GDP) at market prices increased by 2,6 per cent during the third quarter of 2010
The seasonally adjusted real GDP at market prices for the third quarter of 2010 increased by an annualised rate of 2,6 per cent compared with an increase of 2,8 per cent (revised from an increase of 3,2 per cent) during the second quarter of 2010.
The main contributors to the increase in economic activity for the third quarter of 2010 were the mining and quarrying industry (1,5 percentage points), the wholesale, retail, motor trade and accommodation industry and the agriculture, forestry and fishing industry each contributing (0,4 of a percentage point) and finance, real estate and business services and the transport , storage and communication industry each contributing (0,3 of a percentage point). In contrast the manufacturing industry contributed -0,8 of a percentage point.
The seasonally adjusted real annualised value added by primary, secondary and tertiary sectors recorded an increase of 24,5 per cent, a decrease of 3,9 per cent and an increase of 2,0 per cent respectively, during the third quarter of 2010.
The unadjusted real GDP at market prices for the third quarter of 2010 increased by 2,6 per cent compared with the third quarter of 2009. The estimates of GDP for the first nine months of 2010 compared with the corresponding period in 2009 increased by 2,5 per cent.
Real annual GDP decreased by 1,7 percent in 2009 following an increase of 3,6 per cent (revised from an increase of 3,7 per cent) in 2008
According to the latest preliminary indicators, independent annual real estimates of GDP for 2009 decreased by 1,7 per cent compared to 2008.
The main contributors to the decrease in economic activity in 2009 were the manufacturing industry (-1,7 percentage points), the wholesale, retail, motor trade and accommodation industry (-0,3 of a percentage point), the mining and quarrying industry (-0,2 of a percentage point) and the agriculture, forestry and fishing industry (-0,1 of a percentage point).
The contributions by other industries were positive i.e. general government services (0,5 of a percentage point) and finance, real estate and business services and the construction industry (each contributing 0,2 of a percentage point).
The GDP estimates are preliminary, and may routinely be revised on the basis of additional evidence that has become available by the time the subsequent quarter`s estimates are released.
Issued by Statistics South Africa, November 23 2010
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