Second quarter GDP growth is likely to have been relatively suppressed at 1.6% quarter on quarter on a seasonally adjusted and annualised basis and 2.0% year on year‚ but holds the potential to disappoint‚ according to Investec economist Kamilla Kaplan. She notes that developments in the global economy‚ and particularly in South Africa’s major trading partners‚ have had a restraining influence on the country’s economy.“Weak growth abroad has dented South Africa’s potential export performance. Electricity supply constraints have further hampered the expansion of the domestic industrial sector.“Concurrently‚ higher interest rates are bound to dampen growth in the service and construction sectors. Further‚ interest rate increases would negatively affect the service sector in particular‚ which accounts for over 60% of SA economic growth‚” Kaplan says .“Looking ahead‚ global growth is expected to lift in 2016 and beyond which would aid SA export growth. In addition‚ electricity supply constraints should be alleviated with additional capacity scheduled to come on line.“The risks to the global growth outlook are however assessed to be to the downside‚” she adds.The GDP data for the second quarter is due for release on Tuesday. Also scheduled for release on Tuesday is the leading economic indicator and mining output for June‚ with individual data releases also for gold and platinum production.This is followed by the release of producer price inflation (PPI) data on Thursday.PPI inflation is likely to lift to 3.9% year on year in June from 3.6% year on year in May‚ mainly on the lag effects of the broad based rise in commodity prices during the second quarter‚ according to Kaplan.She points out that although commodity prices‚ particularly oil‚ have subsequently retreated‚ the effect on domestic prices is being ameliorated by rand depreciation.Mining output‚ she says‚ is likely to have registered a small increase in June‚ with platinum group metals (PGMs) production continuing to underpin the increase in the headline mining production index.“For most of this year so far‚ statistical base factors have been a key influencing factor on the annual growth outcomes. The low base stems from the contraction in platinum production from February 2014 through to January 2015. Aside from the statistical boost to the annual growth rates‚ underlying mining production is constrained by low commodity prices and slack physical demand‚ whilst operating costs are rising‚” Kaplan notes...