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Pretoria - South Africa's economy would have grown 1.6% in the first quarter of this year if the direct and indirect effects of the crippling five-month strike in the platinum sector are discounted, the SA Reserve Bank said on Wednesday.
"Annualised growth in real gross domestic product in the first quarter of 2014 could have been closer to 1.6% had industrial action not taken place, in contrast to the contraction of 0.6% which materialised," it said in its latest quarterly assessment on the economy.
"Annualised growth in real gross domestic product in the first quarter of 2014 could have been closer to 1.6% had industrial action not taken place, in contrast to the contraction of 0.6% which materialised," it said in its latest quarterly assessment on the economy.
