GDP Data Comment
South Africa’s gross domestic product (GDP) grew by 1.4% quarter-on-quarter (q/q) annualised in 3Q 2014, after increasing by 0.5% q/q in 2Q. The drivers of the rebound were: trade and hospitality (+3.4% q/q), finance and business services (+2.4% q/q) and agriculture (+8.2% q/q). Mining also staged an encouraging recovery from a 3.1% q/q contraction in 2Q, to achieve growth of 1.6% q/q in 3Q. On the downside, manufacturing (-3.4% q/q) and utilities (-1.1% q/q) continued to see output decline.