By Mamello Matikinca-Ngwenya, FNB Chief Economist.
Second-quarter GDP grew by 3.1% q/q (saar) following a revised decrease of 3.1% in 1Q19. The second quarter’s growth rate was well above Bloomberg market consensus of 2.5% and the strongest growth rate since 4Q17. From the production side, the increase was primarily driven by a surge in the mining sector, which grew by 14.4% q/q, contributing 1 percentage point (ppt) to overall growth. (more…)
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