SA GDP drops by 0.7%


Picture: Stats SA

South Africa has seen a drop in the real gross domestic product.

According to Stats SA, the second quarter of this year saw a drop in GDP of 0.7%.

This was partly due to the devastating floods in KwaZulu-Natal and the impact of load shedding on the economy.

The manufacturing sector felt the impact of the floods most intensely.

This sector contributes a fifth of national manufacturing production.

The damage of the KZN floods to factories and plants, and disruptions to logistics and supply chains, pulled national manufacturing output down by 5,9%.

The biggest drags on growth were petroleum and chemical products, food and beverages, and transport equipment.

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