2014 Economic Performance Off To A Bad Start

SOUTH AFRICA - Report 27 May 2014 by Iraj Abedian
According to official figures released by Statistics South Africa, the inflation-adjusted gross domestic product (GDP) shrank by 0.6% on a quarter-on-quarter (q/q), seasonally adjusted annualized (saa) basis in the first quarter of 2014 (see Graph 1). Anemic mining and manufacturing activity was the catalyst for the shrinkage of the domestic economic pie in 2014 Q1. Graph 1 Quarterly Inflation-adjusted GDP growth rate, South Africa, 2008 Q1 – 2014 Q1 Note: Seasonally adjusted and annualized rates, constant 2005 prices. The shaded area represents the recession period. Source: Statistics Sout...

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