The Economy

South African Growth Slows to 4.5%

Aug. 28, 2007

Transportation and business services growing

Well below government forecasts, growth in the South African economy slowed to an annualized 4.5% in the second quarter of the year, data showed Aug. 28.

The figure represented a slight a drop from the first-quarter growth rate of 4.7%, and showed that activity had continued to slow since the final quarter of 2006, when the biggest economy in Africa grew by 5.6%.

Statistics SA data showed the finance, real estate, transport and business service industries were the main contributors to growth.

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