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Manufacturing slows, mining falls as recession fears resurface

Growth in South Africa’s two key sectors slowed on Thursday, with weak activity renewing fears South Africa may struggle to avoid recession and a downgrade of its debt to junk status by year’s end. Manufacturing output braked to below 1% year-on-year while mining output contracted sharply, dousing optimism earlier in the week after second quarter gross domestic product bounced back from a contraction in the first quarter.