SA's GDP falls by 2.2% in first quarter

File: Experts fear the state capture case will be difficult to unravel due to the financial complexity of the instruments used.

File: Experts fear the state capture case will be difficult to unravel due to the financial complexity of the instruments used.

Gallo
File: Experts fear the state capture case will be difficult to unravel due to the financial complexity of the instruments used.

File: Experts fear the state capture case will be difficult to unravel due to the financial complexity of the instruments used.

Gallo

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&39;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.