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Real GDP grew by 2.2% quarter on quarter (in Q3 2018), although while the second and tertiary sectors of the economy grew by 4.5% and 2.6% respectively (quarter on quarter), the primary sector contracted by 5.4% quarter on quarter. Nominal GDP for the quarter is estimated at R1.27trillion in the third quarter.
Within the primary sector, agriculture saw growth of 6.5%, led by increased production in Horticulture, field crops and animal products. The mining sector came under pressure contracting by 8.8% as production in platinum group metals (PGMs), iron ore, gold, copper and nickel decreased.
Manufacturing was the most significant contributor to growth within the secondary sector gaining 7.5% in the quarter. Electricity consumption declined by 0.9% and the construction sector contracted by 2.7% in the quarter.
The tertiary sector saw the trade, transport, finance, government and personal services divisions managing to grow in the quarter. The transport industry grew 5.7% over the period, boosted by increased activity in freight transport.