South Africa’s economic growth slowed in the final three months of 2015, defying expectations for mild improvement, preliminary data from Statistics South Africa showed Tuesday.
Gross domestic product grew an annualized 0.6 percent from the previous quarter, when it rose 0.7 percent. Economists had expected 0.8 percent expansion.
The economy contracted in the second quarter and the latest growth was the weakest since the second quarter of 2014, when it was 0.5 percent.
Year-on-year, GDP rose 0.6 percent in the fourth quarter, following 1 percent growth in the previous three months.
In 2015, the South African economy expanded 1.3 percent after 1.5 percent growth in 2014.
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