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

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