According to Statistics South Africa (Stats SA), the country’s economy grew by 1,4% in the fourth quarter of 2018, slightly down from the third quarter’s 2% and better than the first two quarters’ negative growth. Stats SA estimates annual growth of 0,8% for 2018, down from the 1,4% growth of 2017.
In 2018, the agriculture sector produced 4,8% less, mining 1,7% less, and construction 1,2% less than in 2017, while the manufacturing sector grew 1% and the trade sector 0,6%.
Looking at the expenditure side of the global domestic product, the same negative trends are evident. Total expenditure grew by 1,6% in the fourth quarter of 2018. Household consumption expenditure increased by 3,2%, government consumption expenditure by 0,6% and gross capital formation decreased by a huge 38,9%.
Household consumption expenditure…
