South Africa: growth to remain subdued in 2013

South African GDP growth was worse than expected in Q3, and the outlook for the coming quarters is not very promising either. With strikes continuing to affect the mining sector, and signs of a deepening recession in the euro-zone likely to harm manufacturing output, we are sticking to our below-consensus forecasts for GDP to grow at 2.3% in 2012 and 2.5% in 2013.

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