Economic review of the Eastern Cape - GDP (2019Q1)
Sub Title :
Category : Statistics and data
Publish Date : 04 Jul 2019
• National real GDP declined by 3.2% in the first quarter of 2019. All nine provinces experienced negative growth rates ranging from 2.4% in the EC to 5.2% in the NW.
• The four largest negative contributors to growth in GDP in the first quarter were the manufacturing, mining, trade, and catering and accommodation industries.
• EC real GDP declined by 2.4% in the first quarter with finance, personal services and general government services industries being the only positive contributors to GDP.
• The IMF projected global economy to grow by 3.5% in 2019 and 3.6% in 2020, respectively 0.2 and 0.1 of a percentage point below last October’s projections.
• The South African economy is projected to grow by 1.4% in 2019 and 1.7% in 2020.