South Africa’s gross domestic product contracted by 0.6% in the third quarter. However, on a year-on-year basis, the economy grew by 0.1%, Statistics South Africa statistician-general Risenga Maluleke told media on Tuesday. Previously, Stats SA had revealed that the GDP, in the first quarter of the year, had dropped by 3.1%. The second quarter, however, saw a 3.1% growth – basically putting the country where it was at the start of the year. The unadjusted real GDP at market prices for the first nine months of this year increased by 0.3% year-on-year. Nominal GDP was estimated at just under R1.3-trillion for the quarter, up R31-billion from the second quarter.
