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S. Africa's economic growth down in 2014

Xinhua, February 25, 2015 Adjust font size:

South Africa's economy grew by 1.5 percent in 2014, down from 2.2 percent in 2013, according to official data released on Tuesday.

Eight of 10 industry groups experienced some growth during the year, while two industry groups shrank in size, Statistics South Africa (Stats SA) said in its preliminary estimates of real gross domestic product (GDP).

The industry that grew the fastest in 2014 was agriculture, expanding by 5.6 percent, with government services coming in the second place with an increase of 3 percent.

Economic activities within the mining and electricity industries decreased by 1.6 percent and 0.9 percent respectively, while manufacturing showed very little change during the year.

The mining industry was interrupted by widespread strikes during the first half of 2014, following by positive growth in the second half of the year due to higher production in the mining of "other" metal ores (including platinum) and "other" mining and quarrying (including diamonds).

According to Stats SA, South Africa's GDP was 3.8 trillion rand (about 328 billion US dollars) in 2014. Endi