The Reserve Bank’s Quarterly Bulletin shows real economic growth in the third quarter would have been 3.1% were it not for the metals sector strike.
There are concerns that the impact of unemployment, load-shedding and industrial action will take its toll on economic growth in the new year.
The platinum mining giant was able to fulfill its contracts despite a devastating five-month long strike which wiped out its profits.
Investors are beginning to favour the Eastern European country over South Africa as strike in mining and metals overshadow the seizure of Crimea.
Ahead of the release of its full earning report, Anglo American Platinum said it expects it finances were adversely affected by industrial action.
The platinum strike, rising inflation and other factors have contributed to a "bleak outlook for consumer spending", according to a new report.
SA Communist Party general secretary Blade Nzimande said the platinum sector strike was too narrowly focused and was disastrous for the miners.
The new finance minister says the country is unlikely to meet a a growth target of 2.7% for the year given the protracted platinum strike.
The North West premier says government will launch a programme of reconciliation, healing and renewal after a spate of tough crises in the province.
As miners are expected to return to work on Wednesday, Amcu president Joseph Mathunjwa says an R8 000 minimum basic salary is a breakthrough.
The resolution of the five-month strike in the platinum sector has been welcomed, but there are concerns its effects will not disappear soon.
The union has accepted a wage settlement, which sees the five-month long strike in the platinum sector coming to an end.
Desert Wolf, maker of the Skunk Riot Control Copter, says its machine is "designed to control unruly crowds". But labour activists are condemning it.
Gold producer Sibanye is considering buying embattled platinum mines which have been crippled by a five-month labour dispute.
In the face of SA’s longest-running strike, organisations mull rumours of government contemplating regulating the duration of industrial action.
SA’s longest strike is inching towards a close. But in Rustenburg, Amcu is the name trending on shop floor lips as a game changer on the labour front.
