South African Growth Slows to 2.7% as Europe Crisis Saps Demand

South African Growth Slows to 2.7% as Europe Crisis Saps Demand

Nadine Hutton/Bloomberg

Customers shop for garments in Johannesburg, South Africa. The economy is growing at less than half the 7 percent pace the government estimates is needed to meet a target of creating 5 million new jobs by 2020. The jobless rate of 25.2 percent is the highest of more than 60 countries tracked by Bloomberg.