S African economy contracted by 1.2% in Q1 on big mining slump

June 8, 2016

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The South African economy contracted by 1.2% quarter-on-quarter during the first quarter of 2016, dragged lower by the poor performance of mining and agriculture – the economy was also 0.2% weaker year-on-year.

For the first time, Statistics South Africa released combined production and expenditure estimates for gross domestic product (GDP), having assumed responsibility for the expenditure estimates from the South African Reserve Bank (SARB).

Category: General