Sub Title:
 
Category:
Statistics and data  
Theme:
Economic Development  
Publish Date:
19 Oct 2018  
Originator:
ECSECC  
Editor:
 
Author:
ECSECC  
Date of Publication:
10-19-2018  
Edition:
 
Volume:
 
Format:
 
Status:
Available  

 

The Quarterly Review of Gross Domestic Product provides economic trend analysis for the Eastern Cape. The second quarter 2018 release includes Gross Domestic Product (GDP) data for the Eastern Cape and South Africa, based on data from Statistics South Africa and Quantec Research.

Key findings include;

  • The South African and Eastern Cape economies are both in technical recession as GDP growth rate remains negative for two consecutive quarters.
  • Real GDP was grew at an annualized rate of -7.0% QoQ in 2018Q2, and was -2.6% in the previous quarter, beating the market expectations.
  • The largest positive contributor to the South African GDP is the mining sector with 4.9% QoQ growth, followed by Construction with 2.3% QoQ growth.
  • Four sectors each contributed negatively to GDP namely; agriculture (-29.2%), transport (-4.9%), trade (-0.5%), government (-0.5%) and manufacturing (-0.3%).
  • Year-on-year (YoY), the South African economy contracted from 0.7% in 2017Q2 to -0.2% in 2018Q2.
 

 

 

 

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