AMERICAS November 2004

Posted by Scriptaty | 8:19 PM

The South African economy continues to expand, as Q2 growth was 3.9 percent greater than Q1. The increase marked the 23rd consecutive quarter of growth, the longest streak since the country began collecting data in 1960. According to the the South African Reserve Bank, manufacturing contributed 1 percent to the GDP, while transportation, communication, finance, real estate and business services contributed 0.7 percent each. The GDP was also buoyed by lower interest rates, a slightly higher budget deficit and favorable international terms of trade.