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The South African economy grew by two percent in the third quarter of 2017 (seasonally adjusted and annualised), down from a revised 2.8 percent in the second quarter.

Agriculture, mining and manufacturing were the main drivers of the expansion while there was a contraction in general government services resulting from low employment numbers in the public sector. After recording an increase of 38.7 percent in the second quarter, the agriculture industry continued to power ahead expanding by 44.2 percent in the third quarter.

This is the largest quarterly jump in agriculture production since the second quarter of 1996.

Increased production of field crops and horticultural products were the main contributors to growth, with notable increases in the production of maize and vegetable products. Mining and manufacturing were the other major contributors to economic growth in the third quarter. Increased gold and platinum production saw the mining industry grow by 6.6 percent, while the 4.3 percent rise in manufacturing was spurred on by increased production of both petroleum and metal products.

Four industries, however, saw a decline in economic activity in the third quarter. Falling employment numbers in the public sector saw general government services posting its third consecutive quarter of negative growth, contracting by 0.7 percent.

Other notable industries that saw a decline were trade and electricity, water and gas. Despite a rebound in retail trade sales, falling wholesale trade sales pulled the trade industry down by 0.4 percent.The electricity, water and gas industry experienced a 5.5 percent contraction, a result of falling electricity demand.

Source: Statistics South Africa