Steadily improving South African mine output to benefit Q2 GDP figures - economist

摘要

A steady improvement in mining activity in recent months should bode well for South Africa's second-quarter gross domestic product (GDP) figures, BNP Paribas Securities South Africa economist Jeffrey Schultz said last week. "On a quarter-on-quarter seasonally adjusted and annualised basis, mining production growth managed to bounce strongly to +17.4% in the [second] quarter, marking its highest, quarterly growth rate since the first quarter of 2015," he said in a note last, week, adding, however, that production growth continued to come off a "very low base".