March 6, 2018 / 9:41 AM / 3 months ago

South Africa's Q4 GDP expands by 3.1 pct quarter/quarter

PRETORIA, March 6 (Reuters) - South Africa’s economy grew by 3.1 percent in the fourth quarter of 2017 after expanding by a revised 2.3 percent in the third quarter largely driven by a recovery in agriculture, Statistics South Africa said on Tuesday.

Gross domestic product rose 1.5 percent on an unadjusted year-on-year basis in the fourth quarter, compared with a revised 1.3 percent expansion in the previous three months, the agency said.

Economists polled by Reuters had expected a quarter-on-quarter GDP expansion of 1.8 percent while the economy was seen expanding 1.4 percent year-on-year.

The economy grew by 1.3 percent in 2017 compared a revised h 0.6 percent in 2016, the agency said. (Reporting by Mfuneko Toyana Writing by Olivia Kumwenda-Mtambo Editing by James Macharia)

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