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Stats SA reveals economic growth remains at 1,3 percent

Finance Minister Pravin Gordhan announced that growth for this year is forecast at 0,9 percent for 2016.

Picture: Freeimages.

CAPE TOWN - Statistics South Africa has revealed the country's revised economic growth remains at 1,3 percent.

The data shows how close the country came to what's called textbook recession, which is two quarters of negative economic growth.

The revised data shows South Africa's economic growth in the first quarter of 2015 at 1,9 percent.

It slipped into a negative economic growth rate in the second quarter.

The third quarter's downward revision shows the country was 0,3 percent away from falling into a technical recession - much closer than initially thought.

Despite the revisions, the country's overall GDP figure for 2015 remained at 1,3 percent.

Finance Minister Pravin Gordhan announced that growth for this year is forecast at 0,9 percent for 2016.