SA in technical recession as second quarter GDP falls

Stats South Africa revealed on Tuesday that GDP figures for the second quarter of the year showed a contraction of 0,7%.

The figure for the first quarter has been revised to a contraction of 2,6%.

READ: Recession heightens risk of downgrade

Speaking to Bongani Bingwa, Economic Development Minister Ebrahim Patel says most of the decline was due to a significant drop in agricultural output.

Agriculture dropped about 29% and in fact, it is because of the waiting of agriculture in the economy that had a very significant impact on growth.

Ebrahim Patel, Economic Development Minister

He adds that agriculture is not the only area that they have to be concerned about - Listen below for details about the country's technical recession.


This article first appeared on 702 : SA in technical recession as second quarter GDP falls


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