One Year Later, Recession Hits South Africa Again
According to Statistics South Africa, the country has entered a technical recession due to a fall-off in activity in the agriculture, transport, trade, government and manufacturing industries. This comes one year after Statistician General Pali Lehohla declared the economy's exit from technical recession in September 2017.
Higher economic activity from the agriculture, finance and mining industries have raised the country's gross domestic product following two consecutive quarters of decline, ... Read more »
Finance Minister Malusi Gigaba stressed that inclusive growth and economic transformation should be advanced, despite the country's bleak economic outlook. Read more »
The economy moved into recession with the reported decrease of 0,7% in gross domestic product during the first quarter of 2017, following a 0,3% contraction in the fourth quarter ... Read more »