SA GDP growth data disappoints

Wednesday, November 24, 2010

South Africa's economy grew by a lower-than-expected 2.6 percent in the third quarter of 2010, highlighting the fragility of its recovery and leaving the door open for another interest rate cut.

The data comes less than a week after the central bank painted a gloomy picture of the economy, saying the outlook remained subdued.

Bond yields fell after the data, with the 2015 bond hitting a session low of 7.02 percent, from 7.07 percent prior to the release.

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