Economy takes a knock

South Africa's economy shrank for the first time in a decade in the fourth quarter of last year, weighed down by a big fall in manufacturing output and boosting the chances of an early interest rate cut. Statistics South Africa said yesterday the economy contracted by a more-than-expected 1.8percent compared to the third quarter, when it grew just 0.2percent. - Reuters

South Africa's economy shrank for the first time in a decade in the fourth quarter of last year, weighed down by a big fall in manufacturing output and boosting the chances of an early interest rate cut. Statistics South Africa said yesterday the economy contracted by a more-than-expected 1.8percent compared to the third quarter, when it grew just 0.2percent. - Reuters

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