THE GROWTH in GDP (gross domestic product) for the second quarter of the year was 2.3% - up on the 2% figure for the 1st quarter. In its unadjusted format, real GDP at market prices increased by 2.7% and 2.5% in the respective quarters. According to the analysis by Standard Bank economist Dr Johan Botha, the wholesale and retail trade; hotels and restaurants; finance, real estate and business services; and transport and communication sectors were the major contributors to the rise. "The other sectors," he said, "made a smaller, or negative, contribution." The Statistics SA figures were in line with what was expected by the market, Botha added, and slightly lower than the bank's own forecast. "We seem to be experiencing the same old story of recent quarters," he said. "Relatively weak performance in the primary and secondary sectors of the economy - relatively strong service sector growth - and the agricultural sector acting as a swing factor."
