S. Africa's economy enters positive territory

CAPE TOWN, March 5 (Xinhua) -- South Africa's economy registered positive growth for two consecutive quarters, pushing overall growth for the year into positive territory, Statistics South Africa (Stats SA) said on Tuesday.

The country's economy recorded a 1.4-percent growth in the fourth quarter and a 2.6-percent in the third quarter compared with the same period in 2017, Stats SA said.

The growth contributed to an overall growth rate of 0.8 percent for the entire year, down from 1.4 percent in 2017 but up from 0.4 percent in 2016, said the agency.

South Africa found itself in economic recession in 2018, with the economy shrinking in the first and second quarters.

The finance, real estate and business services industries, strong supporters of overall growth in 2018, increased by 1.8 percent during the year. The second largest contributor to positive growth was the government, which expanded by 1.3 percent. These two sectors contributed 0.4 and 0.2 of a percentage point to the overall growth, according to Stats SA.

However, agriculture, mining and construction all stumbled. Agriculture in particular had a difficult year, Stats SA said.