South Africa growth figures ‘are disappointing’

<p>The growth of the South African economy has slowed.</p>

The South African economy grew by 0.9 per cent in the first quarter of the year, according to the release of official figures.

It was announced that the 0.9 per rise in GDP is less than the 1.9 per cent growth recorded between January and March last year.

Speaking to BBC News, senior economist at Nedbank Nicky Weimar stated the figures are "disappointing" after the South African economy grew by 2.5 per cent in 2012.

"It's a very tricky situation for the monetary policy committee [of the central bank] – growth is obviously a lot weaker than they thought," he added.

South Africa's Reserve Bank announced last week that it is keeping interest rates at five per cent. In a statement, the financier stated that it was "increasingly concerned" about the economy's "deteriorating outlook".

Chinese premier Li Keqiang recently said talks are ongoing regarding the foundation of an economic "dream team" between China and Germany.

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