SA’s economy breaks out of recession with 2.5% GDP growth
The latest GDP figures represent a year-on-year growth of 1.1%.
Cash. File photo
South Africa’s economy is officially out of a technical recession with a GDP growth of 2.5% in the second quarter of this year, statistician-general Pali Lehohla announced on Tuesday.
In June, Stats SA showed the economy was in recession after growth contracted 0.7% in the first quarter of 2017 following a contraction in the fourth quarter of 2016. In the same month, unemployment also spiked to a 13-year high of 27.7%.
The SA economy grew by 2,5% in Q2:2017 from Q1:2017 driven by #Agriculture & #mining industries #StatsSA #GDP pic.twitter.com/vX5XnncYGc
— South African Government (@GovernmentZA) September 5, 2017
