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GDP Edges Higher| News by Staff Reporter
Gross Domestic Product rose 3,2%
Seasonally adjusted Gross Domestic Product (GDP) rose at an annualised rate of 3,2% in the fourth quarter of 2011, compared with an increase of 1,7% during the previous quarter.
This is according to data released on Tuesday by statistics form Stats SA.
“The seasonally adjusted real GDP at market prices for the fourth quarter of 2011 increased by an annualised rate of 3,2 per cent compared with an increase of 1,7 per cent (revised from an increase of 1,4 per cent) during the third quarter of 2011,” said Stats SA.
The firm added that real annual GDP increased by 3,1% in 2011.
“First preliminary annual estimates of gross domestic product (GDP) are derived as the sum of the GDP for the four quarters of the specific year,” explained Stats SA.
“These estimates indicate that the real annual GDP at market prices for 2011 increased by 3,1 per cent compared with 2010, when the real annual economic growth rate was 2,9 per cent.”
Click here to read the full report from Stats SA.