SOUTH Africa’s gross domestic product (GDP) increased by 0.4% in the second quarter this year, following no growth in the first quarter.
The first quarter’s figure has been revised from an initial print of a 0.1% decline.
In a statement, Statistics SA yesterday said the electricity, gas and water industry increased by 3.1%, contributing 0.1 of a percentage point.
This was largely due to increases in electricity production and consumption, as well as water consumption.
The biggest contributor to higher GDP was the finance, real estate and business services industry, increased by 1.3%, contributing 0.3 of a percentage point to the GDP growth.
“Increased economic activities were reported for financial intermediation, auxiliary activities, real estate activities and other business services.”
Another contributor to the gain was the trade, catering and…