s africa growth shrinks to 12 after mine strikes
Last Updated : GMT 06:27:36
Arab Today, arab today
Arab Today, arab today

S Africa growth shrinks to 1.2% after mine strikes

Arab Today, arab today

Arab Today, arab today S Africa growth shrinks to 1.2% after mine strikes

Johannesburg - AFP

Economic growth in South Africa more than halved to 1.2 percent in the third quarter as mining strikes ravaged the continent\'s largest economy, official data showed Tuesday. Growth slowed to its slowest level in more than three years, precipitously falling from the 3.4 percent rate seen in the second quarter. Economists had expected the a wave of deadly mining strikes between July and September to trim growth, but the scale of the decline was larger than expected. The unrest left at least 50 people dead and crippled production in the vital sector. \"There is little in this data release to suggest much to be positive about,\" said Razia Khan, an economist with Standard Chartered Bank. \"Chances are, the bad news from mining will last well into the fourth quarter of 2012 - perhaps even beyond.\" Statistics South Africa reported \"lower production in all mining divisions\" caused a 12.7 percent drop in mining and quarrying output. The finance and service sector, which accounts for around one fifth of South African output also saw slower growth. Statistics South Africa noted \"slower increases\" from the equity, bond and other financial markets, as well as the banking sector. As many countries in Africa enjoy unprecedented sustained growth, South Africa\'s economy risks becoming tripped up, with confidence hit by a series of ratings downgrades and sclerotic policymaking. Last week the South African Reserve Bank warned that growth would slow considerably in the coming quarters, noting the outlook had \"deteriorated.\" The bank cut its growth outlook for 2013 dramatically from 3.4 percent to 2.9 percent. But with inflation predicted to peak at 5.7 percent in early 2013, the bank has little room to provide monetary stimulus. Meanwhile the government, which is already struggling to mend its tattered budget, has little leeway to provide fiscal stimulus. \"South Africa appears to be stuck,\" said Khan. \"It is going to take much bigger, more far-reaching policy decisions -- decisions that can impact positively on long-term confidence, to turn this around.\"

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

s africa growth shrinks to 12 after mine strikes s africa growth shrinks to 12 after mine strikes

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

s africa growth shrinks to 12 after mine strikes s africa growth shrinks to 12 after mine strikes

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Japanese regulators raid Airbnb

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Saudi, Bahrain target Iran

GMT 00:48 2017 Monday ,20 November

Saudi, Bahrain target Iran
Arab Today, arab today Europe turns on Facebook, Google

GMT 02:26 2017 Monday ,20 November

Europe turns on Facebook, Google
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Mona Abdel Ghany increased artistic activities

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 02:28 2017 Saturday ,18 November

Anti-drug operation nets 4 tonnes

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday