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Electricity sparks SA industry turnover

Dec 12 2012 10:59 I-Net Bridge

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Johannesburg – South African industries, with the exception of agriculture‚ financial intermediation‚ insurance and government institutions, have made an estimated total turnover of R1.63 trillion in the third quarter‚ Statistics SA said in the quarterly financial statistics survey on Wednesday.

The R1.63 trillion represented a 3.6% increase from the second quarter’s total turnover of R1.57 trillion‚ the statistics agency reported.

Between the two quarters‚ turnover increased in seven of the eight industries covered in the survey.

The largest increase in turnover was recorded for electricity‚ gas and water supply‚ with 28.3%‚ followed by manufacturing‚ with 5.3%‚ real estate and other business services‚ with 3.2%.

Mining and quarrying, trade, community‚ social and personal services, and construction industries also contributed positively.

A decrease (-0.8%) was recorded for transport‚ storage and communication‚ Statistics SA said.

Total capital expenditure on property‚ plant and equipment for the third quarter was estimated at R84.9bn‚ compared with R73.6bn for the second quarter‚ representing a 15.4% increase.

The electricity‚ gas and water supply saw the largest increase in total capital expenditure on property‚ plant and equipment‚ followed by transport‚ storage and communication‚ real estate and other business services‚ among others.

The electricity‚ gas and water supply industry in particular has seen massive infrastructure spend with the building of new power stations and the development of new energy sources.

Total inventories at the end of the third quarter were estimated at R572.3bn‚ compared with R562.3bn for the second quarter‚ with the largest increase in inventories recorded for electricity‚ gas and water supply.

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