News dalla rete ITA

6 Marzo 2018

Sud Africa

SOUTH AFRICA'S ECONOMY GREW 1.3% IN 2017

The South African economy grew 3.1% during the fourth quarter compared with the previous quarter — putting growth for the year at 1.3%, beating Treasury’s and other forecasts. Compared with a year earlier, gross domestic product (GDP) increased by 1.5% in the fourth quarter of 2017. Treasury had expected growth of 1% for the year. The largest positive contributor to fourth-quarter growth was the remarkable recovery in the agriculture, forestry and fisheries sector, which increased 37.5% and contributed 0.8 of a percentage point to GDP growth. The trade, catering and accommodation industry grew 4.8% and contributed 0.6 of a percentage point. The primary sector (which includes agriculture and mining) increased by 4.9%, the secondary sector (manufacturing, electricity and construction) grew by 3.1% and the tertiary sector (trade, transport, finance, government and personal services) grew by 2.7% compared with the third quarter. These data signal that the country’s economy is poised for a recovery. Last year's performance is an improvement on the dismal 0.6% GDP growth achieved in 2016 but still remains weak by the country’s historic standards. Treasury is forecasting growth to rise to 1.5% in 2018 on political and policy certainty, renewed confidence and rising private fixed investment. Finance Minister Nhlanhla Nene said on Monday that it was likely that the growth forecasts would be revised upwards due to improved business and investor confidence. (Business Day) (ICE JOHANNESBURG)