SA’s economy enters into a technical recession
Written by Lethiwe Mdluli on 3 March, 2020
Statistics South Africa has announced that the South African economy is officially in recession.
The South African gross domestic product contracted by one-point-four percent in the fourth quarter of last year.
This follows a decline of zero-point-eight percent.
The latest figure has plunged the country into a technical recession, following two-quarters of negative growth.
StatsSA’s, Michael Manamela, says the primary industries that led to the decline were transport, trade, communication as well as the manufacturing sector.
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