Manufacturing Woes Drag Recovery

SOUTH AFRICA - Report 26 Nov 2013 by Iraj Abedian
Official figures released today by Statistics South Africa reveal that, after having increased by 3.2% (revised from 3.0%) during the second quarter of 2013 (Q2 2013), the inflation adjusted gross domestic product (GDP) advanced at a paltry pace of 0.7% in Q3 2013 (see Graph 1). The figures are on a quarter-on-quarter, seasonally adjusted and annualized (q/q saa) basis. Graph 1 Quarterly inflation-adjusted GDP growth rate, South Africa Note: Seasonally adjusted and annualized rates, constant 2005 prices. Source: Statistics South Africa. The uninspiring Q3 2013 GDP growth outcome comes on th...

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