SA exits recession with 2.5% GDP growth
5 September 2017
Pretoria – South Africa's gross domestic product has rebounded with 2.5% growth for the second quarter of the year.
This is an improvement from the contraction reported for two consecutive quarters. GDP declined 0.3% in the fourth quarter of 2016 and 0.7% in the first quarter of 2017.
Second-quarter data shows year-on-year GDP growth was 1.1%, and for the six months growth has been 1.1%. The nominal GDP is estimated at R1.145bn.
Statistician general Pali Lehohla explained that the primary industry contributed “significantly” to the growth numbers, with growth of 10.3%.