Economy gallops on
WHAT HAPPENED SOUTH AFRICA’S ECONOMIC growth continues to accelerate, according to the latest figures, which were released last week. The figures show that the gross domestic product (GDP) in the fourth quarter increased by 5,6% on a seasonally adjusted annualised basis, which is the best since third quarter 2004. BUSINESS DAY said that the GDP growth was greater than expected, and this excellent quarterly growth pushed annual growth up to 5%. It’s significant that it has exceeded the target growth of 4,5% to 2009 and comes close to 6% – the Asgisa target for 2010-2014. The big question is whether it’s merely cyclical or reflects more lasting factors.
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