Unexpected setback for South Africa's growth

South Africa's economy contracted by 0.3 percent in the third quarter compared to the second quarter. The decline was unexpected.

Analysts had on average expected a GDP growth of 0.4 percent compared to the previous quarter, according to a compilation of forecasts made by Bloomberg.

Compared to the third quarter last year, the growth in South Africa was 0.3 percent, an unchanged annual growth rate compared to the previous quarter. The average forecast was a growth of 1.1 percent in the third quarter this year.