Key findings: P0441 - Gross Domestic Product (GDP), 2nd Quarter 2014

Real gross domestic product (GDP) at market prices increased by 0,6 per cent during the second quarter of 2014

The seasonally adjusted real GDP at market prices for the second quarter of 2014 increased by an annualised rate of 0,6 per cent compared with a decrease of 0,6 per cent during the first quarter of 2014 (see full report here - PDF).

The main contributors to the increase in economic activity in the second quarter of 2014 were general government services and the transport, storage and communication industry (each contributing 0,4 of a percentage point) and finance, real estate and business services (0,3 of a percentage point). Negative contributions by other industries included the mining and quarrying industry (-0,4 of a percentage point) and the manufacturing industry (-0,3 of a percentage point).

The seasonally adjusted real annualised value added by the primary and secondary sectors recorded decreases of 5,1 per cent and 0,9 per cent respectively, while the tertiary sector recorded an increase of 1,8 per cent during the second quarter of 2014.

The unadjusted real GDP at market prices for the second quarter of 2014 increased by 1,0 per cent compared with the second quarter of 2013. The estimate of GDP for the first six months of 2014 increased by 1,3 per cent compared with corresponding period in 2013.

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.

Statement issued by StatsSA, August 26 2014

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