SA economy grew by 1.3% in 2017

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South Africa’s economy has started to show positive signs. This is after it exceeded expectations growing by 1.3% in 2017. The latest Statistics South Africa data further shows that Gross Domestic Product (GDP) accelerated 3.1% in the last quarter of the past year.

The largest contribution to GDP came from agriculture, followed by trade, catering, accommodation and manufacturing sectors.

Economist Elize Kruger says there is a strong indication that the economy is recovering.

“The overall year of 2017 turned out to be stronger than expected at a 1.3% real GDP growth number. The star performer was again the agricultural sector that grew by 37.3% quarter-on-quarter and contributing a 0.8% to the total quarterly number. Overall, quite a broad base, good recovery evident in fourth quarter numbers.”