EDITORIAL: GDP data points to hard truths
End of load-shedding has made little difference to economy, suggesting problems go far deeper than power
A small sector is having a big impact on the economy’s overall performance from quarter to quarter. And given how volatile and unreliable the data on that sector has been lately, it’s hard not to wonder about the accuracy of the overall figures.
The sector — agriculture — accounts for hardly more than 2% of GDP yet its woes hammered economic growth in the third quarter of last year; its recovery turned growth around in the fourth quarter. Stats SA has now revised agriculture’s third quarter decline from 29% to just under 20%, and it’s hard to know just how seriously to take those numbers or the 17% increase that’s now reported for the fourth quarter...
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