South Africa Economic Indicator (Monthly Report) - May 2019

GDP growth slowed to 1.4% q/q seasonally adjusted and annualised (saar) in 4Q2018 from 2.6% in 3Q18. This was slightly higher than the consensus estimate (1.2%). The economy expanded by 0.8% in 2018 with four of the ten sectors showing contraction. Retrospective downward revisions were made to public sector infrastructure and compensation of employees. The latter amounted to only 3.1% in 2018.

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