SA economy grew by 3.8%

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IOL economy arrows Filomena Scalise

Cape Town - The South African economy grew by 3.8 percent in the last quarter of 2013, Statistics SA (Stats SA) said on Tuesday.

This was compared with an 0.7 percent growth in real gross domestic product (GDP) in the previous quarter of last year.

The main contributors to the increase in the economic activity were manufacturing, contributing 1.8 percentage points and mining and quarrying, with 0.8 of a percentage point.

Wholesale, retail and motor trade; catering and accommodation, industry and finance; real estate and business services each contributed 0.3 of a percent point.

The electricity, gas and water industry recorded a negative contribution of -0.1 of a percentage point.

Nominal GDP at market prices in the fourth quarter of 2013 was R876 billion, which was R14bn more than the third quarter

The wholesale, retail and motor trade, and catering and accommodation, expanded by R19bn to R142bn in the last quarter.

Transport, storage and communication expanded by R4bn to R71bn, while general government services expanded by R2bn to R135bn.

Agriculture, forestry and fishing decreased by R9bn to R9bn.

Electricity, gas and water declined by R5bn to R21bn. - Sapa

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