Statistics South Africa says the Gross Domestic Product grew 1.2%: Risenga Maluleke

The local economy bounced back in the fourth quarter of last year, following a difficult third quarter. Statistics South Africa says the Gross Domestic Product (GDP) grew 12% in the quarter following a 1.7 contraction in the third quarter. Economic growth for 2021 is 4.9%, in line with expectations. Five industries recorded positive growth between the third and fourth quarter of last year. The agriculture continued to show resilience, growing by 12.2% - mainly due to increased production of animal products.
Production in the mining sector decreased by 3% in production reported for iron ore, gold and coal.
The manufacturing sector increased by 2.8% with the largest contribution recorded in the petroleum, chemical products, rubber and plastic products category. The trade, catering and accommodation industry increased supported by retail trade, motor trade, and catering and accommodation services. Positive performance in the fourth quarter was supported by easier lockdown restrictions allowing for more movement and economic activity. Risenga Maluleke, SG: Statistics SA.

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