Q1 GDP data 'low point', deputy SARB governor says

South Africa's report on its first-quarter gross domestic product, which showed Africa's most industrialised economy contracted by 1.2%, represents the "low point" and "a slow upward trend is expected going forward," a deputy South African Reserve Bank (SARB) governor said on Thursday. Daniel Mminele made the remarks in a speech at the Bundesbank Regional Office in Düsseldorf, Germany, which was distributed by the SARB.