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South African GDP Increases by 3.1% in Q2

The latest results from South Africa’s statistics body, ‘Stats SA’ show a 3.1% GDP increase in the second quarter of 2019.

According to the statement released yesterday, the largest industry increase was in the mining quarrying sector, which saw a 14.4% increase, contributes 1% to the GDP growth.

Finance, real estate and business services increased by 4.1% in the Q2 2019, while the trade, catering and accommodation industry increased by 3,9%.

However, despite the overall rise, it was not without its faults’ in contrast, the agriculture, forestry and fishing industry, as well as the construction industry, decreased by 4.2% and 1,6% respectively, each contributing -0.1% to GDP growth.

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