South Africa's real gross domestic product (GDP) at market prices on a quarter-on-quarter (q/q) seasonally adjusted annualised (saa) basis dropped by -1,8% in the fourth quarter of 2008 from +0,2% in the third quarter, Statistics South Africa (Stats SA) said on Tuesday.
Non-seasonally adjusted year-on-year GDP in the fourth quarter was placed at 1,0% from a revised 3,0% (2,9%).
Non-seasonally adjusted year-on-year GDP in the fourth quarter, excluding agriculture, was placed at 0,8% from 2,7% in the third quarter.
The main contributors to the decrease in economic activity for the fourth quarter of 2008 were manufacturing (-3,5 percentage points), electricity, gas and water (-0,1 percentage points), wholesale and retail trade, hotels and restaurants and the mining and quarrying industry (0,0 percentage points).
These were counteracted by increases in finance, real estate and business services and general government (+0,6 percentage points), agriculture, forestry and fishing (0,5 percentage points), construction (0,4 percentage points) and transport storage and communications and personal services (0,2 percentage points).
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