Economy grows 1.4% in Q3

Pretoria - South Africa's GDP grew by an annualised 1.4% quarter-on-quarter (q/q) in the third quarter of 2014, from a revised 0.5% in the second, Statistics South Africa said on Tuesday.

The economy expanded by 1.4% on an unadjusted year-ony-year (y/y) basis in the third quarter, compared with revised growth of 1.3% previously, the agency said.

Economists polled by Reuters had expected q/q GDP expansion of 1.5%, while forecasting a y/y increase of 1.3%.

"The main contributors to the increase in economic activity for the third quarter of 2014 were finance, real estate and business services and the wholesale, retail and motor trade; catering and accommodation industry (each contributing 0.5 of a percentage point), general government services (0.3 of a percentage point) and the agriculture, forestry and fishing industry and the transport, storage and communication industry (each contributing 0.2 of a percentage point)," Stats SA said.

"A negative contribution was recorded by the manufacturing industry (-0.4 of a percentage point)."

Primary, secondary, tertiary sectors: +3,1%, -2,0%, +2,4% respectively for Q3:2014 #GDP http://t.co/fF8iQT6L2s pic.twitter.com/V68MFXEBKx

— Stats SA (@StatsSA) November 25, 2014

The economy of 4 provinces grew faster than the national economy #GDP http://t.co/fF8iQT6L2s pic.twitter.com/UlGE0Y97J2

— Stats SA (@StatsSA) November 25, 2014