South Africa's real gross domestic product (GDP) at market prices on a quarter-on-quarter (q/q) seasonally annualised and adjusted (saa) basis rose by 1.5% in the first quarter 2003 compared with 2.4% in the fourth quarter 2002, Statistics South Africa (Stats SA) says.
On a year-on-year basis Q1 2003 GDP was up 2.5% from Q4's 2002 GDP rise of 3.0% y/y.
According to a survey of economists South Africa's first quarter 2003 GDP growth was expected to have eased slightly.
This is mostly due to the stronger rand, and the median forecast was a real quarter-on-quarter (q/q) seasonally adjusted annualised (saa) increase of 1.6% from 2.4% in the fourth quarter and 3.0% in the third quarter of 2002.
The range of forecasts was from 0.9% to 2.3%.
The growth rate on a y/y basis was expected to be in a range of 2.5% to 2.9% with a median of 2.6% from the fourth quarter's 3.0% and the third quarter's 3.2%.
I-Net Bridge
Publisher: Business Day
Source: Helmo Preuss
South Africa's real gross domestic product (GDP) at market prices on a quarter-on-quarter (q/q) seasonally annualised and adjusted (saa) basis rose by 1.5% in the first quarter 2003 compared with 2.4% in the fourth quarter 2002, Statistics South Africa (Stats SA) says.
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