{"id":12682,"date":"2012-07-23T13:19:32","date_gmt":"2012-07-23T11:19:32","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/s-africa-growth-weak-factory-output-vulnerable\/"},"modified":"2012-07-23T13:19:32","modified_gmt":"2012-07-23T11:19:32","slug":"s-africa-growth-weak-factory-output-vulnerable","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-growth-weak-factory-output-vulnerable\/","title":{"rendered":"S.Africa growth weak, factory output vulnerable"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">PRETORIA, July 23<\/span> (Reuters) &#8211; Growth in South Africa&#8217;s<br \/>\neconomy remains &#8220;pedestrian&#8221;, with the manufacturing sector<br \/>\nvulnerable to weak global growth because of its impact on<br \/>\nexports, the Reserve Bank said on Monday.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>While inflation has moderated, food prices were likely to<br \/>\nstay elevated for the rest of the year due to higher transport,<br \/>\nelectricity and refrigeration costs and wage increases, the Bank<br \/>\nsaid in its 2012 annual economic report.<\/p>\n<p><span><\/span><\/p>\n<p>The report reviews economic development over the last 18<br \/>\nmonths and comes four days after the Bank unexpectedly cut its<br \/>\nbenchmark interest rate to 5.0 percent and lowered its 2012<br \/>\ngrowth forecast to 2.7 percent from 2.9 percent.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The manufacturing sector remains susceptible to renewed<br \/>\nweakness in the global economy, particularly in the euro area,<br \/>\nthrough possible declines in exports,&#8221; the Bank said.<br \/>\nManufacturing accounts for about 15 percent of Africa&#8217;s largest<br \/>\neconomy.<\/p>\n<p><span><\/span><\/p>\n<p>The central bank also blamed subdued domestic growth on<br \/>\ninfrastructure bottlenecks.<\/p>\n<p><span><\/span><\/p>\n<p>South Africa&#8217;s inclusion from October in Citigroup&#8217;s World<br \/>\nGovernment Bond Index should give it a larger and more<br \/>\ndiversified investor base which could raise capital inflows and<br \/>\nsupport the raising for funds for infrastructure, it added.<\/p>\n<p> (Reporting by Stella Mapenzauswa; Editing by Ed Cropley)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PRETORIA, July 23 (Reuters) &#8211; Growth in South Africa&#8217;s economy remains &#8220;pedestrian&#8221;, with the manufacturing sector vulnerable to weak global growth because of its impact on exports, the Reserve Bank said on Monday. While inflation has moderated, food prices were likely to stay elevated for the rest of the year due to higher transport, electricity [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-12682","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12682","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=12682"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12682\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}