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South Africa Slips Into Its Second Recession In 8 Years (51013 Views)
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pittoilet(f): 12:00pm On Jun 06, 2017 |
South Africa’s economy fell into a recession for the first time since 2009 after it contracted for a second straight quarter in the first three months of the year. Gross domestic product shrank an annualized 0.7% in the first quarter from a contraction of 0.3% in the previous three months, Statistics South Africa said in a report released on Tuesday in the capital, Pretoria. According to Stats SA the largest negative contributor to growth in GDP in the first quarter was the trade, catering and accommodation industry, which decreased by 5.9% and contributed -0.8 of a percentage point to GDP growth. The manufacturing industry contracted by 3.7% and contributed -0.5 of a percentage point to GDP growth. Seven out of ten divisions reported negative growth rates in the first quarter. The largest contributor to the decrease was the petroleum, chemical products, rubber and plastic products division. In contrast the mining and quarrying industry increased by 12.8%, and contributed 0.9 of a percentage point to GDP growth. http://www.looknaija.com/2017/06/south-africa-slips-second-recession-8-years/ mynd44 1 Share |
free2ryhme: 12:31pm On Jun 06, 2017 |
![]() That's all thanks to Jacob Zuma and his state capture adventure 18 Likes 1 Share |
stefanweeks: 12:31pm On Jun 06, 2017 |
welcome on board we have been waiting Aunty Kemi & Uncle emefiele should advise u guys na 47 Likes 1 Share |
free2ryhme: 12:31pm On Jun 06, 2017 |
![]() it is official South Africa is in recession Nigerians will be jubilating that they are not alone 51 Likes 1 Share |
KingOvoramwen1(m): 12:31pm On Jun 06, 2017 |
Nigeria Welcomes You!!
48 Likes 1 Share |
raphealolami(m): 12:31pm On Jun 06, 2017 |
African leaders!!!! why are you sleeping?
14 Likes |
AntiWailer: 12:31pm On Jun 06, 2017 |
It is real. We politiciize everything IN Nigeria to form "We told them". Recession can happen at anytime. What the Govt will fall back on is the Infrastructure and savings during the abundance period. The uselessness is the fact that African leaders are corrupt. They steal during abundance and continue to steal during recession. The billions of dollars stolen can be used as bail out fund to cushion the effect of the recession. 41 Likes 1 Share |
skullzflex(m): 12:31pm On Jun 06, 2017 |
We are not alone ![]() 17 Likes |
femi4: 12:31pm On Jun 06, 2017 |
Naso,.....Recession is just a word
8 Likes |
Re: South Africa Slips Into Its Second Recession In 8 Years by Nobody: 12:31pm On Jun 06, 2017 |
Wish them good luck
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thestevens: 12:31pm On Jun 06, 2017 |
In fact the whole Africa is in recession.
7 Likes |
Bossontop(m): 12:31pm On Jun 06, 2017 |
Anoda example ov bad leadership...smd
5 Likes |
SalamRushdie: 12:31pm On Jun 06, 2017 |
A thread for clueless Buhari er to come say " we told you it's not only Nigeria that is suffering recession " but they will forget that both Jacob Zuma and Buhari are two very useless leaders with Buhari being the more useless one
90 Likes 10 Shares |
madridguy(m): 12:32pm On Jun 06, 2017 |
SOME EVIL PEOPLE WILL STILL BLAME APC OR SAI BABA FOR THIS. ![]() ![]() ![]() 14 Likes |
Injiggerwolf(m): 12:32pm On Jun 06, 2017 |
But Zuma why?
1 Like |
Yinkame123(m): 12:32pm On Jun 06, 2017 |
Had it been Nigeria the children of hate would have been calling out APC Buhari and the rest. Let me come and be going before they start trolling me as an e-rat. ![]() ![]() ![]() ![]() ![]() ![]() 5 Likes |
braining01: 12:32pm On Jun 06, 2017 |
Aiye le ooo
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Kingcesar: 12:32pm On Jun 06, 2017 |
Mods are really active this afternoon
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Wizkhalifa2(m): 12:32pm On Jun 06, 2017 |
E be like say BUHARI dan Bite Zuma ![]() ![]() 4 Likes 1 Share |
Gptech(m): 12:32pm On Jun 06, 2017 |
Too bad, another season of xenophobic activities is on its way. ![]() 2 Likes |
awa(m): 12:32pm On Jun 06, 2017 |
naija don better be that....
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Cladez(m): 12:32pm On Jun 06, 2017 |
South-africans,you are highly welcomed....but don't worry we would soon leave to give you guys more space to occupy.
1 Like |
Re: South Africa Slips Into Its Second Recession In 8 Years by Nobody: 12:32pm On Jun 06, 2017 |
No go say na same with Nigeria. A country where u can comfortably take your baby out with 100rands or even buy better thing inside Shoprite. 5 rand get big value here, u fit use em board taxi, pay for an hour for internet service even buy cold drink drink. If u give babe 5rand she go smile any time she see u, u fit chop her later self. Na hell u nah dey. Una no know. ![]() 10 Likes 1 Share |
slimpoet11(m): 12:32pm On Jun 06, 2017 |
Lol. Our brother's don take over from us ![]() ![]() |
conductor3: 12:32pm On Jun 06, 2017 |
Buhari, banana fall on you anywhere you are.
2 Likes |
Re: South Africa Slips Into Its Second Recession In 8 Years by Nobody: 12:33pm On Jun 06, 2017 |
Nigeria is always in recession ![]() |
lonelydora: 12:33pm On Jun 06, 2017 |
So no bi only us?
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Re: South Africa Slips Into Its Second Recession In 8 Years by Nobody: 12:33pm On Jun 06, 2017 |
![]() That joy you derive when you know its 'Orun ya bo' 4 Likes |
rahl12(m): 12:33pm On Jun 06, 2017 |
non be only Nigeria government they fail network. recession will take over Africa soon. new English.
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