IMPROVING LIVES THROUGH DATA ECOSYSTEMS

Real quarterly gross domestic product (GDP) continues to increase

The seasonally adjusted real GDP at market prices for the third quarter of 2007 increased by an annualised rate of 4,7 percent compared with the second quarter of 2007, following real annualised economic growth rates of

5,0 (revised from 4,7) and 4,4 (revised from 4,5) percent in the first and second quarters of 2007 compared with the fourth quarter of 2006 and the first quarter of 2007 respectively.

The main contributors to the increase in economic activity for the third quarter of 2007 were the finance, real estate and business services industry (2,5 percentage points); the wholesale, retail and motor trade, hotels and restaurants industry (0,6 of a percentage point); the construction industry (0,5 of a percentage point) and the transport, storage and communication industry and general government sector (each contributing 0,4 of a percentage point).

The seasonally adjusted real annualised value added by the non-agricultural industries increased by 5,1 percent during the third quarter of 2007, following annualised increases of 5,1 percent (revised from 4,6) and 4,4 percent during the first and second quarters of 2007 respectively.

The unadjusted real GDP at market prices for the first nine months of 2007 increased by 5,3 percent compared with the first nine months of 2006.

Real annual GDP increases by 5,4 percent in 2006 following an increase of 5,0 percent (revised from 5,1 percent) in 2005

According to the latest preliminary indicators, independent annual real estimates of GDP for 2006 increased by 5,4 percent compared to 2005.

"The main contributors to the increase in economic activity in 2006 were finance, real estate and business services industry (1,7 percentage point); the wholesale and retail trade, hotels and restaurants industry (1,0 percentage point); manufacturing industry (0,8 of a percentage point), the transport, storage and the communication industry (0,5 of a percentage point) and the general government service and the construction industry (each contributing 0,4 of a percentage point)", Mr Pali Lehohla noted.

Higher level of nominal GDP

"The revised level of the GDP at current prices for the year 2004 is estimated at R1 395 billion, which is R3 billion or 0,2 percent lower than the previous estimate. The estimate for 2005 is R1 541 billion (revised upwards by

R2 billion). The independent annual estimate for 2006 is revised by 0,8 percent to R1 741 billion" Mr Pali Lehohla said.

The GDP estimates are preliminary, and may routinely be revised on the basis of additional evidence that has become available by the time the subsequent quarter`s estimates are released.