SA’s economic growth improves

South Africa’s economy grew more than expected in the third quarter as the agricultural sector continued to recover from a severe drought while mining and manufacturing also improved, lifting hopes the country might avoid further credit downgrades.

Africa’s most industrialised economy expanded quarter on quarter at a 2% seasonally-adjusted annual rate in the three months to the end of September after its second-quarter growth was revised to 2.8%.

Economists had expected quarterly growth of 1.5%.

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