SA economy expands by 1.4% in Q4 of 2018

South Africa’s economy expanded 1.4% in the fourth quarter of 2018 after a revised 2.6% expansion in the third quarter, data from Statistics South Africa showed on Tuesday.

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PRETORIA - South Africa’s economy expanded at the end of last year helped by growth in agriculture and manufacturing, data showed on Tuesday, a boost for President Cyril Ramaphosa who has pledged to re-start growth after a decade of stagnation.

Statistics South Africa said the economy grew 1.4% in October-December, after expanding by a revised 2.6% in the third quarter.

The growth slightly lagged market expectations of a quarter-on-quarter GDP expansion of 1.6%, according to a Reuters poll.

The rand extended its session gains after the data, trading 0.51% firmer at R14.1275 per dollar as of 0941 GMT.

The statistics agency said farming expanded 7.9% in the quarter, while manufacturing rose 4.5 percent. Mining, however, fell 3.8%.

On an annual basis, Africa’s most industrialised economy grew by 0.8% compared to a revised 1.4% expansion in 2017.