South Africa GDP up 2.1% in Q4

South Africa's economy expanded by 2.1 percent in the final quarter of 2012, compared with the same period the previous year, government agency Statistics SA said Tuesday. Manufacturing was the main sector pushing growth, while mining contracted during the period. The mining sector saw widespread unrest last year, including wildcat strikes which were met by a tough police crackdown that left more than 50 people dead, dpa reported. Real annual GDP for 2012 increased by 2.5 per cent compared with 2011, when the growth rate was 3.5 per cent, according to preliminary estimates. The growth rate is below the 5-per-cent mark needed to create enough jobs to make a dent in unemployment, which remains stuck at about 25 per cent of the workforce, according to the government. Finance Minister Pravin Gordhan was due to unveil his 2013 budget during a speech to parliament Wednesday