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South Africa Slips Into Its Second Recession In 8 Years - Foreign Affairs (3) - Nairaland

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Thomas Schäfe Commits Suicide Over Recession Caused By Coronavirus / South Africa Slips Into Recession / South Africa Slips Into Technical Recession As GDP Drops 0.7% In Q2 (2) (3) (4)

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Re: South Africa Slips Into Its Second Recession In 8 Years by Chidexter(m): 12:55pm On Jun 06, 2017
SalamRushdie:
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

Savage
Re: South Africa Slips Into Its Second Recession In 8 Years by Franchise21(m): 12:58pm On Jun 06, 2017
wristbangle:
Back to post, the recession quagmire affects all hemisphere in the world which Africa is worst hit due to several factors such as low skilled labour force, Little resources, corruption and inept attitude of African leaders, etc.

Just like my friend franchise21 said, two largest africa economy in recession, trouble dey true true! sad
Serious trouble my brother... Where's the African continent heading to?
Re: South Africa Slips Into Its Second Recession In 8 Years by 4Play(m): 12:58pm On Jun 06, 2017
9jakohai:


No....just to show both of them have the same issue...reliance on one resource....which in South Africa's case is its diamonds and platinum.(I.e...both are badly managed).

South Africa does have a viable industrial sector...but thanks to years of arphateid...there aren't enough black technicians to man the industries.(And its steel industry has lost out to cheap steel from China).

Then add corruption (Jacob Zuma has a lot of cases on his head) and an economy based on sharing money in the name of welfare....and you get the picture.

The leader of the Opposition Democratic Alliance was talking about diversificaiton a few months ago...which shows you what's up.

Pseudo-intellectual twaddle.

South Africa has barely cracked the 4% GDP growth mark in the last 20 to 30 years due to a failure to liberalise their economy. Growth has averaged 3% in the post-apartheid era so it doesn't take much to go into minus territory.

This is not a mono-resources story. Mining is a major sector of their economy but they are by no means solely dependent on it (not even Nigeria is solely dependent on oil). Their economy is at a much higher level of development. This is more of a loss of investor confidence story - in this way Jacob Zuma mirrors Buhari.

3 Likes

Re: South Africa Slips Into Its Second Recession In 8 Years by belindar: 12:59pm On Jun 06, 2017
With South Africa recession it's still by far better Nigeria in all ramifications.

2 Likes 1 Share

Re: South Africa Slips Into Its Second Recession In 8 Years by IDEKEALUMONA(m): 12:59pm On Jun 06, 2017
lonelydora:

Di anyi, ime agaa? Location?
Adi oyi nwanne, oburu n'ichoro igo, ebenugu ego .

1 Like

Re: South Africa Slips Into Its Second Recession In 8 Years by MrEverest(m): 1:00pm On Jun 06, 2017
wristbangle:
Back to post, the recession quagmire affects all hemisphere in the world which Africa is worst hit due to several factors such as low skilled labour force, Little resources, corruption and inept attitude of African leaders, etc.

Just like my friend franchise21 said, two largest africa economy in recession, trouble dey true true! sad
Indeed misery really craves for company. Yes, according to you, the whole world is in recession, so Nigerians should endure it since its not peculiar to them. SMH Buhari & his ignorance coupled with the zombie support he got even when he was dancing naked in public view, actually threw Nigeria into recession.
Re: South Africa Slips Into Its Second Recession In 8 Years by Nobody: 1:01pm On Jun 06, 2017
MrEverest:
The two giants of SSA (Nigeria & South Africa) going down economically will affect other countries in the region. While the latter has a fairly developed infrasture and industrial base, the former is battling poor and decaying infrasture, massive unemployment, Insecurity & now a secessionist struggle that is threatning to tear it apart.

My brother the xenophobia in the latter alone is more worrisome than the security challenge facing the formal. What is development when you have cannibals and zombies littering the corridors of the cities. I think our guys should start a quick match to the west asap

1 Like

Re: South Africa Slips Into Its Second Recession In 8 Years by mmsen: 1:02pm On Jun 06, 2017
raphealolami:
African leaders!!!! why are you sleeping?

Most African nations are not in recession.

South Africa is in recession because Zuma is useless and has been since he took office.

The same is true of Buhari.

Get rid of of both and both countries will quickly recover.

1 Like

Re: South Africa Slips Into Its Second Recession In 8 Years by lonelydora: 1:03pm On Jun 06, 2017
IDEKEALUMONA:


Adi oyi nwanne, oburu n'ichoro igo, ebenugu ego .

Thank you
Re: South Africa Slips Into Its Second Recession In 8 Years by luizmendezgrant(m): 1:04pm On Jun 06, 2017
pittoilet:
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
Abi dem say mk nigerians and other African countries leave them alone..
mk dem stay well...
Re: South Africa Slips Into Its Second Recession In 8 Years by Neddyogu(m): 1:06pm On Jun 06, 2017
Wizkhalifa2:
E be like say BUHARI dan Bite Zuma grin grin
grin cheesy grin grin grin
Re: South Africa Slips Into Its Second Recession In 8 Years by Nobody: 1:11pm On Jun 06, 2017
Livintestimony1:
That's what happens when you chase Nigerians out of the your country..
Meanwhile, Congrats to yesterday's winners. All thanks to God Almighty for making it Possible.. See images below for more..

You're a fool. What is Nigeria worth when they can't revive their own economy is it South Africa they will revive. You must be an ipod. Octopus head parasites

Re: South Africa Slips Into Its Second Recession In 8 Years by vecman22(m): 1:23pm On Jun 06, 2017
SalamRushdie:
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

Ipobs na wah ooo...dats why dey call you guys donkeys,you guys will just die of hate

3 Likes

Re: South Africa Slips Into Its Second Recession In 8 Years by Nobody: 1:23pm On Jun 06, 2017
Just days back,Rochas Okorocha visited Zuma n now we are hearing sumthing bad abt South Africa,Are u pple thinking wat am thinking?

1 Like 1 Share

Re: South Africa Slips Into Its Second Recession In 8 Years by drnoel: 1:39pm On Jun 06, 2017
pittoilet:
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

Na cos Nigerian economy is in recession plus all those sanctions MTN has been paying in addition to the forex crisis buhari made happen that's why south Africa can't get money
Re: South Africa Slips Into Its Second Recession In 8 Years by zinaunreal(m): 1:42pm On Jun 06, 2017
Let them enter recession and die there! Useless bunch of rapists
Re: South Africa Slips Into Its Second Recession In 8 Years by SHOPPERS(m): 1:57pm On Jun 06, 2017
You well so?

TruePass:
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
Re: South Africa Slips Into Its Second Recession In 8 Years by win3k: 2:09pm On Jun 06, 2017
That is what happens when you allow black south african apes to take over part of the economy from whites.
savages and animals allowed from zoo to scare away other blacks by killing them.

1 Like

Re: South Africa Slips Into Its Second Recession In 8 Years by Nobody: 2:29pm On Jun 06, 2017
Na ur father no well mumu
SHOPPERS:
You well so?

Re: South Africa Slips Into Its Second Recession In 8 Years by Josmila(m): 2:30pm On Jun 06, 2017
SalamRushdie:
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

Nice comparison. Clap for yourself please

1 Like

Re: South Africa Slips Into Its Second Recession In 8 Years by DJInfluence: 2:43pm On Jun 06, 2017
Watch out.. they will blame Nigerians for this recession as well and start attacking the ones they see pretty soon.

1 Like

Re: South Africa Slips Into Its Second Recession In 8 Years by kpaminose: 2:43pm On Jun 06, 2017
The worst South African Government is the best of Nigerian government. but the most industrious South Africans are the laziest Nigerian. SA has very good government but very lazy populace. If you know how much the government spend on the citizens despite not making so much money like the developed countries, you would wonder why SA took so long before getting into recession.

1 Like

Re: South Africa Slips Into Its Second Recession In 8 Years by sunshineV(f): 2:58pm On Jun 06, 2017
Wizkhalifa2:
E be like say BUHARI dan Bite Zuma grin grin

Re: South Africa Slips Into Its Second Recession In 8 Years by holluphemydavid(m): 3:02pm On Jun 06, 2017
We welcome dem to D Club
Re: South Africa Slips Into Its Second Recession In 8 Years by peterchike: 3:10pm On Jun 06, 2017
Zumhamadu Zumhari is in charge
Re: South Africa Slips Into Its Second Recession In 8 Years by CaptainFM1: 3:10pm On Jun 06, 2017
When dey were killing Africans that were helping their economy to grow dey did not know say na recession dem dey play with?

1 Like

Re: South Africa Slips Into Its Second Recession In 8 Years by baralatie(m): 3:13pm On Jun 06, 2017
free2ryhme:
grin
That's all thanks to Jacob Zuma and his state capture adventure
zuma ?
Re: South Africa Slips Into Its Second Recession In 8 Years by Tunagee(m): 3:18pm On Jun 06, 2017
pittoilet:
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

Who cares?
Re: South Africa Slips Into Its Second Recession In 8 Years by baralatie(m): 3:27pm On Jun 06, 2017
kpaminose:
The worst South African Government is the best of Nigerian government. but the most industrious South Africans are the laziest Nigerian. SA has very good government but very lazy populace. If you know how much the government spend on the citizens despite not making so much money like the developed countries, you would wonder why SA took so long before getting into recession.
do you understand the implication of recession in s.a

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