Posted date: 2013-08-28 09:32:12
PRETORIA—South Africa's economy is growing at its weakest rate in four years, as labor unrest and a volatile currency undercut the country's claim to offer a gateway to an otherwise fast-growing continent.
Africa's biggest economy grew at an annualized rate of 3% in the second quarter compared with the first three months of this year, South Africa's statistics agency said on Tuesday.
That pace fell below economists' forecasts for a 3.3% expansion and was well under the 7% that the government has said it needs to cut into an official unemployment rate of 25.6%.
The quarterly growth puts South Africa ...