The South African economy contracted an annualized 0.6 percent on quarter in the three months to September of 2019, following an upwardly revised 3.2 percent growth in the previous period and much worse than market expectations of a 0.1 percent expansion. Mining, manufacturing and transport, storage and communication industries contributed the most to the GDP contraction. GDP Growth Rate in South Africa averaged 2.68 percent from 1993 until 2019, reaching an all time high of 7.60 percent in the fourth quarter of 1994 and a record low of -6.10 percent in the first quarter of 2009. source: Statistics South Africa
GDP Growth Rate in South Africa is expected to be -2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in South Africa to stand at 1.40 in 12 months time. In the long-term, the South Africa GDP Growth Rate is projected to trend around 1.50 percent in 2020, according to our econometric models.