The South African economy expanded 0.4 percent year-on-year in the second quarter of 2018, slowing from a 0.8 percent growth in the previous period and below market expectations of a 1 percent expansion. It was the weakest growth rate since the first quarter of 2016 when the economy contracted 0.3 percent, as agriculture, forestry and fishing declined. GDP Annual Growth Rate in South Africa averaged 2.79 percent from 1994 until 2018, reaching an all time high of 7.10 percent in the fourth quarter of 2006 and a record low of -2.60 percent in the second quarter of 2009.
GDP Annual Growth Rate in South Africa is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in South Africa to stand at 1.50 in 12 months time. In the long-term, the South Africa GDP Annual Growth Rate is projected to trend around 2.10 percent in 2020, according to our econometric models.