SA economy grows

The South African economy recorded its fourth consecutive quarter of growth, expanding by 1.2percent in the second quarter of 2021. This followed a revised 1.0percent rise in the first quarter of the year.

The transport, storage and communication industry increased by 6.9percent in the second quarter and made the largest contribution to Gross Domestic Product ( GDP) growth, namely 0.5 percentage points, data from StatSA showed.

Increased economic activity was reported for land transport and communication services.

The personal services industry increased by 2.5percent and contributed 0.4 of a percentage point to GDP growth. Increases were reported for community services and other producers, the stats body said.

The trade, catering and accommodation industry increased by 2.2percent and contributed 0.3 of a percentage point to GDP growth. Increased economic activity was reported in wholesale, retail and motor trade, and there was increased spending on catering and accommodation services.

The agriculture, forestry and fishing industry increased by 6.2percent and contributed 0.2 of a percentage point to GDP growth. The increase was mainly due to increased production of field crops, horticulture and animal products, Stats SA said.

The mining and quarrying industry increased by 1.9percent and contributed 0.1 of a percentage point to GDP growth. Increased production was reported for platinum group metals ( PGMs), gold and coal.