South Africa Q2 current account deficit narrows to 3.3 pct/GDP – c.bank

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A shopper pushes a shopping cart loaded with goods past the check out counters of a Game supermarket, operated by Massmart Holdings Ltd., at the Centurion Mall in Centurion, South Africa, on Wednesday, Jan. 13, 2016. South Africa's central bank will need to assess whether its current monetary policy stance remains appropriate after risks to the inflation outlook escalated because of a weaker rand, Deputy Governor Daniel Mminele said. Photographer: Waldo Swiegers/Bloomberg

PRETORIA (Reuters) – South Africa’s current account deficit narrowed to 3.3 percent of gross domestic product (GDP) in the second quarter, from a revised 4.6 percent of GDP in the first quarter, central bank data showed on Thursday.

The figure was slightly lower than the 3.4 percent deficit analysts polled by Reuters had expected, a boost for the South African economy after data this week showed the economy slipped into recession for the first time since 2009. [nL8N1VQ25G]

Reporting by Mfuneko Toyana; Writing by Alexander Winning; Editing by James Macharia

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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