Economy grows 3.2%

Pretoria - South Africa's economy expanded to a growth rate of 3.2% in the fourth quarter of 2011, Statistics SA said on Tuesday.

This was up from a revised 1.7% in the previous quarter, said Gerhardt Bouwer, executive manager national accounts at Statistics SA in Pretoria.

The largest contributors to growth were the trade industries: wholesale, retail and motor, catering and accommodation.

This was followed by the manufacturing industry and general government services.

The first preliminary estimate of growth for 2011 was 3.1%, Bouwer said.

This was an improvement on 2010's growth rate of 2.9%.

Source: www.fin24.com

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