gdp growth slows

Growth of South Africa's gross domestic product (GDP) slowed to an annualised 4,7percent in the first quarter of this year, from 5,6percent in the last quarter of last year. The below forecast figure could suggest a cumulative 2 percentage point increase in the reserve bank's repo rate to 9percent in the second half of last year, which might be beginning to affect demand, though spending remains high.

Growth of South Africa's gross domestic product (GDP) slowed to an annualised 4,7percent in the first quarter of this year, from 5,6percent in the last quarter of last year. The below forecast figure could suggest a cumulative 2 percentage point increase in the reserve bank's repo rate to 9percent in the second half of last year, which might be beginning to affect demand, though spending remains high.

Analysts said that the growth, while slow, showed that the economy remains on a solid footing. - Reuters

X