SA, Nigeria out of recession
Updated | By ECR Newswatch
Two of Africa's biggest economies, South Africa and Nigeria have emerged from their respective recessions with their agricultural sectors helping their recovery.
Statistics South Africa says gross domestic product increased by 2.5% in the second quarter of this year.
Stats SA says the agricultural sector came to the rescue - growing by 33.6% - which was far more than what was expected.
Mining and manufacturing also contributed to the growth.
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Earlier this year, South Africa recorded its first recession in eight years after consecutive negative GDP growth of 0.3% and 0.7% in the last quarter of 2016 and the first three months of this year respectively.
Nigeria's National Bureau of Statistics says that country recorded growth of 0.55% in the second quarter.
And that's thanks to the performance of oil, agriculture, manufacturing and trade sectors.
Since the first quarter of 2016 - the Nigerian economy had contracted for five consecutive quarters.
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