THE total turnover generated by South African industries is 3.3% higher at R2.04-trillion in the third quarter compared with the second quarter.
Statistics SA’s quarterly financial statistics (QFS) survey showed on Tuesday that turnover rose in seven of the eight industries covered by the survey as economic growth picked up, although modestly, in the third quarter.
The survey results are used in compiling a gross domestic product (GDP) estimate, which in turn is used to develop and monitor government policy. The statistics are also used by the private sector to analyse business and industry performance.
The largest percentage increase in turnover was recorded in electricity, gas and water supply (20.3%), followed by construction (10.2%), manufacturing (4.2%), transport, storage and communication (4.2%), trade (2.2%), real estate and other business services, excluding financial intermediaries and insurance (2.2%) and community, social and personal services excluding government institutions (1.1%).
A decrease in turnover was recorded in mining and quarrying (-3.9%). Mining is under pressure from low global commodity prices and dwindling demand, particularly from China.
Total closing inventories increased marginally in the third quarter while total capital spending on property, plant and equipment fell during the period.
Capital expenditure fell sharply in the construction, manufacturing, trade and real estate and other business services sectors, but was up in the community, social and personal services, excluding government institutions. It fell also in transport, storage and communication, electricity, gas and water supply and in mining and quarrying.
Turnover was estimated at R2.04-trillion in the third quarter of this year, a 1.2% increase compared with the third quarter of last year.
by Ntsakisi Maswanganyi
Statistics SA’s quarterly financial statistics (QFS) survey showed on Tuesday that turnover rose in seven of the eight industries covered by the survey as economic growth picked up, although modestly, in the third quarter.
The survey results are used in compiling a gross domestic product (GDP) estimate, which in turn is used to develop and monitor government policy. The statistics are also used by the private sector to analyse business and industry performance.
The largest percentage increase in turnover was recorded in electricity, gas and water supply (20.3%), followed by construction (10.2%), manufacturing (4.2%), transport, storage and communication (4.2%), trade (2.2%), real estate and other business services, excluding financial intermediaries and insurance (2.2%) and community, social and personal services excluding government institutions (1.1%).
A decrease in turnover was recorded in mining and quarrying (-3.9%). Mining is under pressure from low global commodity prices and dwindling demand, particularly from China.
Total closing inventories increased marginally in the third quarter while total capital spending on property, plant and equipment fell during the period.
Capital expenditure fell sharply in the construction, manufacturing, trade and real estate and other business services sectors, but was up in the community, social and personal services, excluding government institutions. It fell also in transport, storage and communication, electricity, gas and water supply and in mining and quarrying.
Turnover was estimated at R2.04-trillion in the third quarter of this year, a 1.2% increase compared with the third quarter of last year.
by Ntsakisi Maswanganyi
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