South Africa's GDP growth slows in Q1
South Africa’s GDP growth slows in Q1South Africa's economy, Africa's largest, grew at the slowest pace since 2009 in the first quarter as manufacturing output slumped.
According to Statistics South Africa seasonally adjusted and annualised gross domestic product (GDP) increased by 0.9 percent in the quarter, well below forecasts of a 1.9 percent rise, and falling short of fourth-quarter growth of 2.1 percent.
Negative contributions to the slowdown included the manufacturing industry (-1.2 percent), the agriculture, forestry and fishing industry and the electricity, gas and water industry (each contributing -0.1 of a percentage point).
The news has knocked the rand to a four-year low.
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