South Africa breaks free of technical recession
Statistics South Africa (Stats SA) announced on Tuesday that the country has broken out of the technical recession owing to a gross domestic product (GDP) growth rate of 2.5% in the second quarter of 2017.
Dr Pali Lehohla, the Statistician-General of South Africa announced the figures at a briefing in Tshwane, earlier on Tuesday.
EWN senior reporter, Barry Bateman was at the media briefing. He explains that the biggest contributor was the agriculture, forestry and fishing industry, which increased by 33.6% and contributed 0.7 of a percentage point to GDP growth. While the mining industry increased by 3.9% and contributed 0.3 of a percentage point to GDP growth.
The big thing to take from this is that we have broken out of that technical recession.Barry Bateman, EWN senior reporter
The last time we have seen growth in the GDP was in the third quarter of last year and that was just point four percent growth.Barry Bateman, EWN senior reporter
Listen to the EWN report here:
Bruce Whitfield and personal finance expert Warren Ingram get to grips with why perhaps you shouldn't, if you didn't...Read More
If you can't afford to buy a property, no matter. 'Landlord GO' allows you to become a tycoon in the Mother City, or elsewhere.Read More
Inverroche Distillery spearheaded a 'gin revolution' in SA. Lorna Scott details the wide-reaching effects of the alcohol ban.Read More
Namibia's government assisted Covid-hit retailers, but SA doesn't understand how the industry works says Reggie Sibiya (FRA CEO).Read More
Yes, restaurants are struggling, but that doesn't make it ok to shortchange staff says Wendy Knowler on The Money Show.Read More
Tax expert Thamsanqa Msiza (Tax Consulting South Africa) tells The Money Show what taxpayers need to check and be aware of.Read More
The wheels may be coming off for the substance gets us around the worldRead More
The Money Show's Bruce Whitfield interviews Kevin Lings, chief economist at Stanlib Asset Management.Read More
Since it launched in May, the scheme's helped only 6.6% of businesses it targets. Will recent changes lead to improvement?Read More
Branding expert Andy Rice explains why NetFlorist's radio campaign is his advertising hero of the week.Read More