South Africa’s GDP decreased by 0.1% within the first quarter of this yr, Statistics South Africa experiences.
The manufacturing trade decreased by 1.4% within the first quarter, contributing -0.2 of a proportion level to the damaging GDP progress. 5 of the ten manufacturing divisions reported damaging progress charges within the first quarter.
The motor autos, components and equipment and different transport tools division and the fundamental iron and metal, non-ferrous metallic merchandise, metallic merchandise and equipment division made the biggest damaging contributions to the lower within the first quarter.
The mining and quarrying trade decreased by 2.3% within the first quarter, contributing -0.1 of a proportion level. Decreased financial actions had been reported for platinum group metals (PGMs), coal, gold and manganese ore.
The development trade decreased by 3.1% within the first quarter, contributing -0.1 of a proportion level. Decreases had been reported for residential buildings and building works.
The agriculture, forestry and fishing trade elevated by 13.5% within the first quarter of 2024, contributing 0.3 of a proportion level. This was primarily as a result of elevated financial actions reported for horticulture merchandise.
