SA's GDP falls by 2.2% in first quarter

File: The GDP number for the first quarter is not good news for the South African economy. Photo: Gallo Images / Foto24 / Brendan Croft

JOHANNESBURG – There is bad news for the local economy as South Africa’s GDP fell by 2.2 percent in the first quarter of 2018.

Mining and manufacturing are the largest contributors to the negative turn.

READ: S&P keeps South Africa's credit rating at junk status

The manufacturing sector saw a decrease of 6.4 percent while agriculture saw a massive contraction of more than 20 percent.

The latter is attributed to a drop in production of field crops and horticultural products.

 

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