"Year-on-year the increase has been positive," claims SA statistician general Pali Lehohla.
South Africa's total industry turnover for the second (Q2) quarter 2013 was R1.71-trillion, which at the value of the Rand at the time, was the equivalent to US$168-billion.
This means that measured against the US Dollar, South Africa is moving backwards. I'll rather not compare this to pre-1994 as it would shock most people into heart attacks.
South African economists are trying to convince the public that South Africa is going forward and growing.
- The largest decrease was in mining and quarrying, which dropped by 5.7%
- Community, social and personal services (excluding government institutions) dropped by 4.5%, manufacturing by 2.5% and trade by 0.2%.
- "The electricity sector is growing," Electricity and water supply increased by 14.5%, construction by 4.4%, transport, storage and communication by 2.2% and real estate and other business services by 1.7%
Mining and manufacturing, major sources of foreign income, both dropped, while electricity and water, both of which are strangling South Africans to death, increased.
It is like the way economists are bragging about South Africans' salaries that are growing. That is like Zimbabwe bragging about their salaries now averaging 20-million Zim-Dollar per month.
Turnovers are increasing, because the Rand is depreciating, requiring them to print more worthless money and with almost weekly price increases on anything money can buy in this country, inflation is out-of-control, while economists are juggling the figures to make it seem stable.
R10,000 a month today is equivalent to US$891. In 1994 your R10,000 was worth US$2,813.
South Africa has been moving backward since 1994.
Source: http://www.moneyweb.co.za/moneyweb-economic-trends/r186bn--q2-total-turnover-of-all-industries
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