South Africa: Q4 growth accelerates but 2013 a year to forget

Despite the acceleration in Q4, the South African economy grew at its second slowest pace in 15 years in 2013. Looking ahead, a number of domestic and external constraints suggest that growth will remain lacklustre in 2014 and 2015. To compound matters, a pick up in inflation means that monetary policy is likely to be tightened further over the coming months, despite the weakness of the economy.

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