by Staff writer
South Africa has fallen into recession for the starting fourth dimension time inwards 8 years afterward economical increment shrank yesteryear 0.7% betwixt Jan as well as March.
The downturn, due to weak manufacturing as well as trade, follows a 0.3% autumn inwards gross domestic product inwards the terminal quarter in conclusion year.
It is the starting fourth dimension time that economical has slowed for 2 consecutive quarters - the technical Definition of a recession - since 2009.
The value of the rand savage yesteryear 1% on the currency markets.
All sectors of the economic scheme apart from agriculture as well as mining besides contracted inwards the quarter, piece household spending savage 2.3 per cent, the statistics means said.
Analysts had expected gross domestic product to grow yesteryear 0.9% during the starting fourth dimension quarter.
However, Joe de Beer, deputy manager full general of Statistics South Africa, said: "We tin straight off pronounce that the economic scheme is inwards recession."
He added: "The major industries that contracted inwards the economic scheme were the merchandise as well as manufacturing sectors."
According to Financial Times, the report of the unexpected recession confounds economists. Sumber http://www.dnbstories.com/
South Africa has fallen into recession for the starting fourth dimension time inwards 8 years afterward economical increment shrank yesteryear 0.7% betwixt Jan as well as March.
The downturn, due to weak manufacturing as well as trade, follows a 0.3% autumn inwards gross domestic product inwards the terminal quarter in conclusion year.
It is the starting fourth dimension time that economical has slowed for 2 consecutive quarters - the technical Definition of a recession - since 2009.
The value of the rand savage yesteryear 1% on the currency markets.
All sectors of the economic scheme apart from agriculture as well as mining besides contracted inwards the quarter, piece household spending savage 2.3 per cent, the statistics means said.
Analysts had expected gross domestic product to grow yesteryear 0.9% during the starting fourth dimension quarter.
However, Joe de Beer, deputy manager full general of Statistics South Africa, said: "We tin straight off pronounce that the economic scheme is inwards recession."
He added: "The major industries that contracted inwards the economic scheme were the merchandise as well as manufacturing sectors."
According to Financial Times, the report of the unexpected recession confounds economists. Sumber http://www.dnbstories.com/