SA’s economy grows 1.4 percent

This is up from a revised 0.5 percent in the second three months of 2014.

FILE: Statistics South Africa says South Africa's Gross Domestic Product (GDP) grew by an annualised 1.4 percent in the third quarter of this year. Picture: EWN.

JOHANNESBURG - Statistics South Africa says South Africa's Gross Domestic Product (GDP) grew by an annualised 1.4 percent in the third quarter of this year.

This is up from a revised 0.5 percent in the second three months of 2014.

Some economists had expected expansion of 1.5 percent while forecasting a year-on-year increase of 1.3 percent.

Investec chief economist Annabel Bishop says this is not good news.

"Obviously there hasn't been a contraction or anything dire but it's really insufficient to keep our economy going and jobs created."

Africa's most advanced economy expanded by 1.4 percent on an unadjusted year-on-year basis in the third quarter, compared with revised growth of 1.3 percent previously, the agency said.

Economists polled by Reuters had expected quarter-on-quarter GDP expansion of 1.5 percent, while forecasting a year-on-year increase of 1.3 percent.