South African GDP growth, similar to politics, ends 2017 on a positive note

SOUTH AFRICA - Report 06 Mar 2018 by Iraj Abedian

On a quarter-on-quarter, seasonally adjusted and annualized basis, GDP in the last quarter of 2017 increased by 3.1%. This was the third consecutive positive quarterly growth rate following the upwardly adjusted second quarter 2.9% (previously 2.8%) and third quarter 2.3% (previously 2.0%). Even though the market expected GDP to have increased during the fourth quarter, today’s figures surprised on the upside as the 3.1% increase is much better than the generally expected growth rate, by around 1.2 percentage points. Also interesting is that this was the first time the country’s quarterly GDP recorded growth rates above 2% in three quarters of a single year since 2011.

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