South Africa's real gross domestic product (GDP) at market prices on a quarter on quarter (q/q) seasonally adjusted annualised (saa) basis rose by 2.7 percent in the first quarter of 2012 from an unchanged 3.2 percent in the fourth quarter of 2011‚ Statistics SA data showed on Tuesday.
GDP growth was expected to edge up to 2.3 percent‚ according to a poll of leading economists by I-Net Bridge. The forecasts among twelve economists for the current survey ranged from 1.8 percent q/q to 3.9 percent.
The rand weakest showing in 25 years revealed once again how vulnerable SA is to external shocks.
"We'll give South Africa another Marikana on a silver platter... we are prepared to pay any price..."
Finance minister Pravin Gordhan and mining minister Susan Shabangu will meet with mining leaders today.
