SA economy drops by 2.2% in the first quarter

SA economy drops by 2.2% in the first quarter

South Africa's economy contracted by 2.2% in the first quarter of 2018.

stock-exchange-market-jse.jpg

Statistician-General Risenga Maluleke released the latest Gross Domestic Product figures in Pretoria.

He says the biggest contributors to the negative growth include agriculture, mining and manufacturing.

"Agriculture comes from a high base - in the last two quarters, it recorded relatively very high. It's contribution to this quarter's growth is negative 0,7%. 

"That shrink is followed by the one in mining and manufacturing. Both sitting at -9.9% and -6.4%," Maluleke said. 

ALSO READ: Nigerian president's US visit to focus on security, economy

Show's Stories