Good news because GDP increases by 0.6% in the fourth quarter of 2024

The economy of South Africa has increased in the fourth quarter of last year, the GDP increasing by 0.6%, mainly due to agriculture, finances and trade on the offer or production side of the economy, the household expenses that have increased the demand or expenses.

Conformable Its statistics, which announces GDP todayAgriculture had the most significant positive effect on the growth of gross domestic products (GDP) on the offer side of the economy. After A decreased decrease in the third quarter, the industry has returned By 17.2%, raising the growth of GDP by 0.4 from a percentage point of view, mainly due to the increase of field crops and animal products.

The industry of finance, real estate and enterprises has increased for a consecutive eighth quarter, with financial intermediation, real estate activities and other business services the largest positive contributors to growth.

The trade industry has expanded behind the high -selling, wholesale and car sales sales. Statistics to say that this has been positively reflected on the demand of the economy, the expenses with the consumption of household increasing in the fourth quarter.

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Poor performance in GDP

However, seven industries worked poorly, with production, transport, storage and communication, the most important negative contributors. Statistics to say that the manufacture was mainly drawn by weaker production levels in metals and car and divisions.

The transport, storage and communication have also recorded a fourth consecutive quarter of decline, with a withdrawal of the assistance for terrestrial transport and transport.

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The mining activity has also decreased due to lower levels of production for manganese ore, iron ore, gold, chrome ore, nickel and copper. However, coal metals and platinum groups have been positive, but they are not enough to keep the industry above the water.

The demand part of the economy, measured by expenses for GDP, was mainly raised by an increase in household consumption.

Notable Increased Household Expenses for GDP

Households have spent especially on a series of products that include clothing and footwear, non -alcoholic foods and drinks, recreation and culture and household goods. Statistics to say that data suggests that consumers could have more breathing space than they did a year ago.

In real terms, households spent 2.3% more in the fourth quarter of 2024, compared to the fourth quarter of 2023. The trade industry has increased the size by 1.6% in the same period.

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The economy has witnessed an extraction of R16.4 billion in invention, partly due to the commercial industry that accelerates the efforts to respond to the request that exceeded the offer, says its statistics.

The mining also removed from its stocks to approach an increase in export demand, while production remained, contributing to the general extracting of stocks.

Investments in infrastructure and other fixed assets (the gross formation of fixed capital) was weaker in the fourth quarter, mainly due to the decrease of residential buildings, cars and other equipment and non -residential buildings.

Finance industry Star in 2024

Statistics to emphasize that the finance industry was the notable bright place in 2024, pushing the increase in GDP by 0.8 from a percentage point of view, while electricity, gas and water, personal services and mining have expanded in 2024.

On the disadvantage, agriculture and trade were the most significant traction on growth.