SA growth forecast lowered

Friday, July 30, 2010

PRETORIA - The Bureau for Economic Research (BER) estimates South Africa's Gross Domestic Product (GDP) will be adjusted downwards to 3.1 percent for 2010.

"For 2010 as a whole we have made a downward adjustment (from 3.4 percent in April to 3.1 percent) in the GDP growth forecast," said the Bureau for Economic Research (BER) in its economic prospects statement on Tuesday.

According to the BER, two thirds of the 2010 growth is forecast to be the result of an end to the huge inventory decline that was witnessed in 2009.

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