The South African GDP advanced 0.1 percent year-on-year in the third quarter of 2019, after expanding 0.9 percent in the previous period and missing market expectations of a 0.4 percent growth. Further nationwide power blackouts hit primarily utilities, manufacturing, mining, agriculture and construction. GDP Annual Growth Rate in South Africa averaged 2.68 percent from 1994 until 2019, reaching an all time high of 7.10 percent in the fourth quarter of 2006 and a record low of -2.60 percent in the second quarter of 2009. source: Statistics South Africa
GDP Annual Growth Rate in South Africa is expected to be 0.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in South Africa to stand at 1.20 in 12 months time. In the long-term, the South Africa GDP Annual Growth Rate is projected to trend around 1.90 percent in 2020, according to our econometric models.