Bloomberg News

Citigroup Cuts South African 2012 GDP Growth Forecast to 2.8%

September 29, 2011

Sept. 29 (Bloomberg) -- Citigroup Inc. cuts its 2012 forecast for South African economic growth to 2.8 percent from 3.5 percent, said Jean-Francois Mercier, an economist at the bank in Johannesburg.

The economy will probably expand 3 percent this year, compared with 3.4 percent estimated previously, Mercier said in a phone interview today. The current-account deficit is forecast to widen to 4.7 percent of gross domestic product in 2012 from 3.3 percent this year, Citigroup said in an e-mailed report.

To contact the reporter on this story: Franz Wild in Johannesburg at

To contact the editor responsible for this story: Nasreen Seria at

China's Killer Profits
blog comments powered by Disqus