Real gross domestic product (GDP) at market prices increased by 1.3 per cent during the first quarter of 2015, this is according to Statistics South Africa.
“The seasonally adjusted real GDP at market prices for the first quarter of 2015 increased by an annualised rate of 1.3 per cent compared with an increase of 4.1 per cent during the fourth quarter of 2014,” read Stats SA statement.
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According to Stats SA, the main contributors to the increase in economic activity for the first quarter of 2015 were the mining and quarrying industry, finance, real estate and business services and the wholesale, retail and motor trade, catering and accommodation industry.
Negative contributions were recorded by the agriculture, forestry and fishing industry with -0.4 of a percentage point and the manufacturing industry with -0.3 of a percentage point.
“The seasonally adjusted real annualised value added by the primary and tertiary sectors recorded increases of 3.3 per cent and 1.5 per cent respectively, while the secondary sector recorded a decrease of 1,4 per cent during the first quarter of 2015.”
Stats SA also added that the unadjusted real GDP at market prices for the first quarter of 2015 increased by 2.1 per cent compared with the first quarter of 2014.