South African Economy Grows at Slowest Pace Since Recession

South Africa’s economy, the largest on the continent, grew at the slowest pace since a 2009 recession in the first quarter as manufacturing output slumped.

Gross domestic product growth slowed to an annualized 0.9 percent from 2.1 percent in the fourth quarter, Statistics South Africa said in a report released in Johannesburg today. The median estimate of 15 economists surveyed by Bloomberg was 1.6 percent.