The rand pulled back on Thursday afternoon after data showed that output for mining and manufacturing had decreased in October, according to Statistics SA. Mining output contracted 2.9% from this time last year, while manufacturing production fell 2.7% year on year. These were weaker than expected and have hindered prospects of an improvement in GDP growth in the fourth quarter. SA recorded disappointing economic growth of just 0.2% in the third quarter and there were hopes the fourth-quarter figures would provide more of a boost to the annual figure. At 3.14pm the rand was R13.6729 to the dollar from Wednesday's R13.4734, R14.7154 to the euro from R14.4869 and R17.3094 to the pound from 17.0096. The euro firmed on the announcement that the European Central Bank (ECB) would extend its programme of quantitative easing for an extra nine months. The euro was at $1.0762 from $1.0752.
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