South African Economy Slows in Q4

South Africa’s GDP expanded 1.3 percent year-on-year in the last quarter of 2014, following a revised 1.6 percent increase in the previous period. For 2014 as a whole, the economy grew 1.5 percent, the slowest pace since a 2009 recession.
Statistics South Africa | Joana Taborda | 2/24/2015 10:57:14 AM
The mining sector contracted for the fourth straight quarter by 1.6 percent and electricity, water and gas production shrank for the third consecutive time by 0.9 percent.  

The agriculture, forestry and fishing industry increased by 4.2 percent, slowing from an 11.9 percent surge in the previous quarter.

In contrast, the construction sector rose at a slightly faster 2.9 percent (2.7 percent in the three months to September); transportation rose 2.6 percent (2.2 percent) and manufacturing grew 0.3 percent, rebounding from a 0.3 percent drop in the previous quarter.

On a quarter-on-quarter basis, the economy advanced an annualized 4.1 percent, the highest gain in a year. 

Considering full 2014, the economy grew 1.5 percent, down from 2.2 percent in 2013 and the lowest since 2009 when it contracted 1.5 percent. In 2014, the country faced a five-month strike in the platinum sector and several other weeks of strike. 

South African Economy Slows in Q4