SA exiting recession reasonably fast: c.bank

Wednesday, February 24, 2010

South Africa is coming out of its first recession in almost two decades reasonably quickly, Reserve Bank Governor Gill Marcus said on yesterday, as data showed the economy growing late last year.

Official figures showed South Africa's GDP expanded by 3.2 percent in the fourth quarter of 2009 on a seasonally-adjusted and annualised basis.

"Various short-term indicators also show South Africa coming out of the recession reasonably rapidly," central bank chief Marcus told a parliamentary commitee.

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SA exiting recession reasonably fast: c.bank

South Africa is coming out of its first recession in almost two decades reasonably quickly, Reserve Bank Governor Gill Marcus said on yesterday, as data showed the economy growing late last year.