Stats SA to announce third quarter GDP results
South Africa emerged from its first recession in nearly a decade in the third quarter as recoveries in manufacturing and agriculture contributed to an increase in economic growth.
The rand firmed by as much as 1% shortly after the release of the results.
"Specifically, third quarter's growth is forecast at 1.5 percent quarter-on-quarter seasonally adjusted annualised".
Manufacturing expanded 7.5%, agriculture grew 6.5%. Large contributions came from steel and metals, and motor vehicle production, among other things.
The primary industry sector still lags, the mining industry decreasing by 8.8%, construction by 2.7% and electricity, gas and water by 0.9%. Cyril Ramaphosa's ascent to power - first as leader of the ruling African National Congress in December and as President in February - bolstered sentiment and the rand following Jacob Zuma's scandal-ridden tenure of nearly nine years, but indexes show confidence has waned as businesses seek real reforms. The agribusiness confidence index dropped from 48 to 42, mainly due to concerns over weather conditions and a lack of clarity on land reform policy.
Use common sense when hearing President's jokes - Palace
Like the Duterte spokesmen before him, Panelo changed tact by emphasizing how the President is "entitled" to make jokes.
The tertiary sector grew by 2.6% during the quarter.
The positive growth recorded in the third quarter follows two quarters of negative growth in the first (-2.6) and second (-0.7%) quarters this year.
The economic rebound was on the higher end of what economists had been predicting, with the main growth drivers being secondary industries (trade, transport, finance, government and personal services).
Household expenditure was slightly up. Contributions of 200 words or more will be considered for publication.
Related:
-
Two killed in India violence linked to dead cows
Reportedly, the situation is tensed in the area, due to which heavy police force is deployed to maintain law and order. The mob fury was triggered by the alleged seizure of cow carcasses from a jungle outside Mahaw village.Colorado denies hiring of Georgia DC Tucker is imminent
The Bulldogs ranked sixth in total defense a year ago. "He's anxious about these guys on this team. He joined the staff at Alabama under Saban and Smart - who was defensive coordinator at the time.Samsung launching punch-hole display phone first
The phone is expected to arrive with Huawei's Kirin 980 processor as well as 4GB or 6GB of RAM and 128GB of onboard storage. Rumours indicate that there may be no 3.5mm audio jack, indicating that this is a USB Type C only smartphone. -
Australian ruling party hardens rules to oust leader
Craig Kelly wearing a "Menzies" T-shirt in Parliament House in Canberra to show his loyalty to the Liberal Party on Thursday. Mr Greiner said although the changes went against the party's ethos, it was time to catch up to public expectations.Oklahoma states playoff case, tops Texas
While players like Trey Sermon and CeeDee Lamb have made the big plays, Brown's speed always need to be accounted for. Texas responded with 13 points in the third quarter, and the game was all tied up at 27-27 heading into the fourth.Turkey working to 'diversify and deepen' cooperation with Venezuela: Erdoğan
Maduro has repeatedly blamed a US-led economic war for the crisis, saying Washington is plotting to topple his government. According to Maduro, he was planning to hold "a very intense and very important meeting" with Putin later on Tuesday. -
Saskatchewan not following Alberta’s lead in cutting oil production
Industry groups and pundits scolded protestors, declaring that the oil would find its way to the market one way or another. On Monday, Alberta Energy Minister Marg McCuaig-Boyd said her government had been in contact with Saskatchewan.Aussie cricketer Usman Khawaja's brother arrested in connection to terror 'hit list'
Earlier this year, Sri Lankan-born PhD student Mohamed Kamer Nizamdeen was arrested on a terror-related charge. It did not appear from the charges that the list was linked to any credible assassination plots.United Kingdom can revoke Article 50 completely, Europe's highest court says
While the ECJ, which is based in Luxembourg, often follows advice from an Advocate General, it does not always. The case comes as pressure builds from Brexit opponents for a second referendum on the decision to leave. -
Kanye West Called Out by ‘Cher’ Actor for Using Phone During Show
Cher herself made two appearances at the show before its Broadway debut, the most recent on Saturday in NY . West actually apologized after the show.Louisville Cardinals tab Scott Satterfield as new coach
Louisville set its sights on Satterfield as soon as Jeff Brohm turned the Cardinals down, opting to remain at Purdue . Satterfield is in his sixth season with Appalachian State, where he was a quarterback from 1992-95.Manchester City under serious threat of being banned from Champions League
Emails published as part of the Football Leaks revelations, however, suggest that City's actions had been deeper and more widespread than initially thought.