Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,152,941 members, 7,817,752 topics. Date: Saturday, 04 May 2024 at 06:38 PM

South Africa Falls Into Second Recession In A Decade - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / South Africa Falls Into Second Recession In A Decade (565 Views)

Clem Agba: We Are Heading For Second Recession In Four Years / Nigeria Faces Worst Recession In 40 Years – World Bank / Nigeria Heading Into Worst Recession In 30 Years –IMF (2) (3) (4)

(1)

South Africa Falls Into Second Recession In A Decade by AlphaT1(m): 2:49pm On Jun 06, 2017
South Africa has fallen into recession for the first time in eight years after economic growth shrank by 0.7% between January and March.
The downturn, due to weak manufacturing and trade, follows a 0.3% fall in GDP in the final quarter last year.
It is the first time that economic has slowed for two consecutive quarters - the technical definition of a recession - since 2009.
The value of the rand fell by 1% on the currency markets.
Analysts had expected GDP to grow by 0.9% during the first quarter. However, Joe de Beer, deputy director general of Statistics South Africa, said: "We can now pronounce that the economy is in recession."
He added: "The major industries that contracted in the economy were the trade and manufacturing sectors."


http://www.bbc.com/news/business-40173590?ocid=socialflow_facebook
Re: South Africa Falls Into Second Recession In A Decade by Mynd44: 2:57pm On Jun 06, 2017

(1)

STORY: The Strong Men Of Rivers Who Became Very Close Friends By Circumstances / An Open Letter On The South East Issue / Buhari Refused To Sign, shame unilag Osinbajo Is involve Criminals Harrasement

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 5
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.