[miningmx.com] – THE absence of significant strike action during the fourth quarter of 2013 enabled the South African economy to grow 3.8% as mining and manufacturing recovered, said Bloomberg News.
Gross domestic product growth accelerated from an annualized 0.7%, said the newswire citing the statistics office in a report released on February 25. The median estimate of 21 economists in a Bloomberg survey was 3.4%. The economy grew 1.9% for the whole of last year, down from 2.5% in 2012, it said.
“Little-to-no strikes allowed production to grow at “normalised’ levels, showing the economy’s potential’ without labour disruptions, Bloomberg News quoted Gina Schoeman, an economist at Citigroup, to have said.
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