NewStats: 3,264,986 , 8,185,274 topics. Date: Friday, 13 June 2025 at 04:32 AM 4l2z9

6n613r

South Africa Slips Into Its Second Recession In 8 Years - Foreign Affairs - Nairaland 4u2871

South Africa Slips Into Its Second Recession In 8 Years (51013 Views)

(4)

(1) Go Down)

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
grin

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
cheesy

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 grin

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
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. grin grin grin

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. grin grin grin grin grin grin

5 Likes

braining01: 12:32pm On Jun 06, 2017
Aiye le ooo
Kingcesar: 12:32pm On Jun 06, 2017
Mods are really active this afternoon
Wizkhalifa2(m): 12:32pm On Jun 06, 2017
E be like say BUHARI dan Bite Zuma grin grin

4 Likes 1 Share

Gptech(m): 12:32pm On Jun 06, 2017
Too bad, another season of xenophobic activities is on its way. sad

2 Likes

awa(m): 12:32pm On Jun 06, 2017
naija don better be that....
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. grin

10 Likes 1 Share

slimpoet11(m): 12:32pm On Jun 06, 2017
Lol. Our brother's don take over from us angry grin
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 grin
lonelydora: 12:33pm On Jun 06, 2017
So no bi only us?
Re: South Africa Slips Into Its Second Recession In 8 Years by Nobody: 12:33pm On Jun 06, 2017
grin
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.

(1) Reply)

Burkina Faso: Constitution Suspended, Govt Dissolved. Traore Announces Coup D'et

(Go Up)

Sections: How To . 20
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or s on Nairaland.