SA economy surprises everyone, grows by 2% as agriculture soars

For several weeks now… a lot of the data has been far better than anticipated…

Dr Azar Jammine, Econometrix

South Africa’s economy grew by 2% in the third quarter of 2017, announced Stats SA on Tuesday.

A Reuters poll had expected third quarter GDP growth to come in 1.5%.

“Agriculture, forestry and fishing” increased by 44.2%, contributing 0.9 of a percentage point to GDP growth.

Mining and quarrying increased by 6.6% and contributed 0.5 of a percentage point to GDP growth.

Manufacturing increased by 4.3%, which contributed a further 0.5 of a percentage point.

Stats SA revised second quarter GDP growth from 2.5% to 2.8%.

The Money Show’s Bruce Whitfield interviewed Dr Azar Jammine, Chief Economist at Econometrix.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

It [2%] wasn’t out of the question… we knew we came out of the drought…

Dr Azar Jammine, Econometrix

For the first time in many years the error is being too pessimistic instead of being too optimistic.

Dr Azar Jammine, Econometrix

It reflects a certain element of resilience…

Dr Azar Jammine, Econometrix

I don’t for one moment believe it’s hunky-dory if he [Cyril Ramaphosa] gets in…

Dr Azar Jammine, Econometrix

Click here (then “like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : SA economy surprises everyone, grows by 2% as agriculture soars


Recommended

by NEWSROOM AI

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
'Ramaphosa is presenting an image of him as Madiba’s anointed successor'

'Ramaphosa is presenting an image of him as Madiba’s anointed successor'

President Ramaphosa is invoking his inner Mandela for political ends, says Political Economy Analyst Daniel Silke.

So long, Beira! And thanks for all the seafood!

So long, Beira! And thanks for all the seafood!

Bruce Whitfield interviews Lee Kasumba who is wrapping up her fact-finding mission in Mozambique’s central port city of Beira.

How to win elections and influence people

How to win elections and influence people

You could say elections are being disrupted.

Pay back the billions you dodged in taxes, Christo Wiese! – Sars

Pay back the billions you dodged in taxes, Christo Wiese! – Sars

He's been implicated in an elaborate tax-dodging scheme, says amaBhungane’s Craig McKune. Sars wants R3.7 billion from him .

Avocados are better than sex

Avocados are better than sex

Fuelled by skyrocketing demand at home and abroad, the SA avo industry is thriving, says the SA Avocado Growers Association.

Billionaire gives away R100 billion, leaving only 0.0002% of fortune for himself

Billionaire gives away R100 billion, leaving only 0.0002% of fortune for himself

You've probably never heard of Chuck Feeney. Nevertheless, he’s one of the strangest, most impactful people who has ever lived.

Popular articles
More arrests are imminent in connection with the cash-in-transit heists - Hawks

More arrests are imminent in connection with the cash-in-transit heists - Hawks

Seven suspects were arrested in Limpopo in less than 24 hours after a cash-in-transit vehicle was blown up in the province.

Consumers beware of illegal, deadly weight-loss products

Consumers beware of illegal, deadly weight-loss products

Consumer journalist Wendy Knowler and a medical testing expert put several harmful weight-loss products under the microscope.

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)

Criminals targeting homes with aluminium windows, warns neighborhood watch

Criminals targeting homes with aluminium windows, warns neighborhood watch

The Panorama, Welgelegen and Plattekloof Neighbourhood Watch has identified a new house break-in trend.

‘I started my thriving business with R5000 (and made a profit in the 1st month)’

‘I started my thriving business with R5000 (and made a profit in the 1st month)’

After 3 years there are 3 Nic Harry stores (incl online) that sell 100 000 pairs of socks in over 20 countries around the world.

5 contributing factors to the Western Cape's growing green economy

5 contributing factors to the Western Cape's growing green economy

GreenCape CEO Evan Rice unpacks why our province is seeing a great deal of success with sustainable energy projects.