CAPE TOWN: Statistics SA gross domestic product (GDP) data showed on Tuesday that the economy expanded by a seasonally adjusted and annualised 1.3% in the first quarter of 2015 compared with 4.1% in the fourth quarter of 2014. Growth, however, accelerated by 2.1% year on year.
According to a median consensus forecast from a BDlive survey of 10 economists‚ GDP growth had been expected to slow to a seasonally adjusted and annualised 1.9%.
Stats SA said the largest contributions to the quarter-on-quarter growth of 1.3% were as follows: the mining and quarrying industry contributed 0.8 of a percentage point based on growth of 10.2%; finance, real estate and business services contributed 0.7 of a percentage point based on growth of 3.8%; and the wholesale, retail and motor trade, catering and accommodation industry contributed 0.2 of a percentage point based on growth of 1.2%.