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.
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.
The South African #economy contracted by biggest margin since Q1:2009 when it fell by 6,1%. #GDP down by 2,2% in Q1:2018 largely driven by #agriculture & #mining industries #StatsSA https://t.co/jnyRS5Fy1v pic.twitter.com/X1na3pN8Lt— Stats SA (@StatsSA) June 5, 2018