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South Africa Slips Into Its Second Recession In 8 Years - Foreign Affairs - Nairaland

Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / South Africa Slips Into Its Second Recession In 8 Years (35713 Views)

Italy Slides Into Recession, Darkening Outlook For Europe / South Africa Slips Into Technical Recession As GDP Drops 0.7% In Q2 / South Africa Falls Into Second Recession In A Decade (2) (3) (4)

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South Africa Slips Into Its Second Recession In 8 Years by pittoilet(f): 12:00pm On Jun 06, 2017
South Africa’s economy fell into a recession for the first time since 2009 after it contracted for a second straight quarter in the first three months of the year.

Gross domestic product shrank an annualized 0.7% in the first quarter from a contraction of 0.3% in the previous three months, Statistics South Africa said in a report released on Tuesday in the capital, Pretoria.

According to Stats SA the largest negative contributor to growth in GDP in the first quarter was the trade, catering and accommodation industry, which decreased by 5.9% and contributed -0.8 of a percentage point to GDP growth.

The manufacturing industry contracted by 3.7% and contributed -0.5 of a percentage point to GDP growth.

Seven out of ten divisions reported negative growth rates in the first quarter. The largest contributor to the decrease was the petroleum, chemical products, rubber and plastic products division.

In contrast the mining and quarrying industry increased by 12.8%, and contributed 0.9 of a percentage point to GDP growth.

http://www.looknaija.com/2017/06/south-africa-slips-second-recession-8-years/

mynd44

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Re: South Africa Slips Into Its Second Recession In 8 Years by free2ryhme: 12:31pm On Jun 06, 2017
grin

That's all thanks to Jacob Zuma and his state capture adventure

18 Likes 1 Share

Re: South Africa Slips Into Its Second Recession In 8 Years by stefanweeks: 12:31pm On Jun 06, 2017
welcome on board

we have been waiting

Aunty Kemi & Uncle emefiele should advise u guys na

47 Likes 1 Share

Re: South Africa Slips Into Its Second Recession In 8 Years by free2ryhme: 12:31pm On Jun 06, 2017
cheesy

it is official South Africa is in recession

Nigerians will be jubilating that they are not alone

51 Likes 1 Share

Re: South Africa Slips Into Its Second Recession In 8 Years by KingOvoramwen1(m): 12:31pm On Jun 06, 2017
Nigeria Welcomes You!!

48 Likes 1 Share

Re: South Africa Slips Into Its Second Recession In 8 Years by raphealolami(m): 12:31pm On Jun 06, 2017
African leaders!!!! why are you sleeping?

14 Likes

Re: South Africa Slips Into Its Second Recession In 8 Years by AntiWailer: 12:31pm On Jun 06, 2017
It is real.

We politiciize everything IN Nigeria to form "We told them".

Recession can happen at anytime. What the Govt will fall back on is the Infrastructure and savings during the abundance period.

The uselessness is the fact that African leaders are corrupt. They steal during abundance and continue to steal during recession.

The billions of dollars stolen can be used as bail out fund to cushion the effect of the recession.

41 Likes 1 Share

Re: South Africa Slips Into Its Second Recession In 8 Years by skullzflex(m): 12:31pm On Jun 06, 2017
We are not alone grin

17 Likes

Re: South Africa Slips Into Its Second Recession In 8 Years by femi4: 12:31pm On Jun 06, 2017
Naso,.....Recession is just a word

8 Likes

Re: South Africa Slips Into Its Second Recession In 8 Years by Nobody: 12:31pm On Jun 06, 2017
Wish them good luck
Re: South Africa Slips Into Its Second Recession In 8 Years by thestevens: 12:31pm On Jun 06, 2017
In fact the whole Africa is in recession.

7 Likes

Re: South Africa Slips Into Its Second Recession In 8 Years by Bossontop(m): 12:31pm On Jun 06, 2017
Anoda example ov bad leadership...smd

5 Likes

Re: South Africa Slips Into Its Second Recession In 8 Years by SalamRushdie: 12:31pm On Jun 06, 2017
A thread for clueless Buhari supporter to come say " we told you it's not only Nigeria that is suffering recession " but they will forget that both Jacob Zuma and Buhari are two very useless leaders with Buhari being the more useless one

90 Likes 10 Shares

Re: South Africa Slips Into Its Second Recession In 8 Years by madridguy(m): 12:32pm On Jun 06, 2017
SOME EVIL PEOPLE WILL STILL BLAME APC OR SAI BABA FOR THIS. grin grin grin

14 Likes

Re: South Africa Slips Into Its Second Recession In 8 Years by Injiggerwolf(m): 12:32pm On Jun 06, 2017
But Zuma why?

1 Like

Re: South Africa Slips Into Its Second Recession In 8 Years by Yinkame123(m): 12:32pm On Jun 06, 2017
Had it been Nigeria the children of hate would have been calling out APC Buhari and the rest. Let me come and be going before they start trolling me as an e-rat. grin grin grin grin grin grin

5 Likes

Re: South Africa Slips Into Its Second Recession In 8 Years by braining01: 12:32pm On Jun 06, 2017
Aiye le ooo
Re: South Africa Slips Into Its Second Recession In 8 Years by Kingcesar: 12:32pm On Jun 06, 2017
Mods are really active this afternoon
Re: South Africa Slips Into Its Second Recession In 8 Years by Wizkhalifa2(m): 12:32pm On Jun 06, 2017
E be like say BUHARI dan Bite Zuma grin grin

4 Likes 1 Share

Re: South Africa Slips Into Its Second Recession In 8 Years by Gptech(m): 12:32pm On Jun 06, 2017
Too bad, another season of xenophobic activities is on its way. sad

2 Likes

Re: South Africa Slips Into Its Second Recession In 8 Years by awa(m): 12:32pm On Jun 06, 2017
naija don better be that....
Re: South Africa Slips Into Its Second Recession In 8 Years by Cladez(m): 12:32pm On Jun 06, 2017
South-africans,you are highly welcomed....but don't worry we would soon leave to give you guys more space to occupy.

1 Like

Re: South Africa Slips Into Its Second Recession In 8 Years by Nobody: 12:32pm On Jun 06, 2017
No go say na same with Nigeria. A country where u can comfortably take your baby out with 100rands or even buy better thing inside Shoprite.
5 rand get big value here, u fit use em board taxi, pay for an hour for internet service even buy cold drink drink. If u give babe 5rand she go smile any time she see u, u fit chop her later self. Na hell u nah dey. Una no know. grin

10 Likes 1 Share

Re: South Africa Slips Into Its Second Recession In 8 Years by slimpoet11(m): 12:32pm On Jun 06, 2017
Lol. Our brother's don take over from us angry grin
Re: South Africa Slips Into Its Second Recession In 8 Years by conductor3: 12:32pm On Jun 06, 2017
Buhari, banana fall on you anywhere you are.

2 Likes

Re: South Africa Slips Into Its Second Recession In 8 Years by OrestesDante(m): 12:33pm On Jun 06, 2017
Nigeria is always in recession grin
Re: South Africa Slips Into Its Second Recession In 8 Years by lonelydora: 12:33pm On Jun 06, 2017
So no bi only us?
Re: South Africa Slips Into Its Second Recession In 8 Years by handsomeclouds(m): 12:33pm On Jun 06, 2017
grin
That joy you derive when you know its
'Orun ya bo'

4 Likes

Re: South Africa Slips Into Its Second Recession In 8 Years by rahl12(m): 12:33pm On Jun 06, 2017
non be only Nigeria government they fail network. recession will take over Africa soon. new English.

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