What you need to know about SA's economic recession

Stats SA released GDP figures showing a decrease of 0.7% in the second quarter of 2018.

According to Stats SA's report, "real gross domestic product (measured by production) decreased by 0,7% in the second quarter of 2018, following a decrease of 2,6% in the first quarter of 2018".

The largest negative contributors to this decrease included agriculture, trade, transport and government.

Positive contributions to the GDP included mining, finance and construction.

Household final consumption expenditure decreased by 1.3% during Q2. According to Stats SA, this was "the first decrease since 2016".

The main negative contributors here were in transport, food, clothing and recreation.

Key findings, according to Stats SA:

  • South Africa's gross domestic product (GDP) growth rate declined by 0,7% in the second quarter of 2018.

  • The largest negative contributor to growth in GDP in the second quarter was the agriculture, forestry and fishing industry, which decreased by 29, 2% and contributed -0, 8 of a percentage point to GDP growth.

  • The transport and communication industry decreased by 4,9% and contributed -0,4 of a percentage point.

  • The trade, catering and accommodation industry decreased by 1,9% and contributed -0,3 of a percentage point to GDP growth.

  • General government services decreased by 0,5% and contributed -0,1 of a percentage point to GDP growth.

  • Finance, real estate and business services increased by 1,9% in the second quarter and contributed 0,4 of a percentage point to GDP growth.

  • The mining and quarrying industry increased by 4,9% and contributed 0,4 of a percentage point to GDP growth.

This article first appeared on KFM : What you need to know about SA's economic recession


Recommended

by NEWSROOM AI
Read More
Highest paid celebrities of 2018

Highest paid celebrities of 2018

Forbes has released its latest listing of the highest paid entertainers - actors, athletes, musicians and more - for 2018.

6 Positive ways in which SA has developed over the last 15 years

6 Positive ways in which SA has developed over the last 15 years

Every year Stats SA releases its General Household Survey (GHS). The survey is conducted in the preceding January to December.

Close to 90% of South African households don't have Internet access at home

Close to 90% of South African households don't have Internet access at home

Stats SA’s annual General Household Survey shows that close to 90% of SA households don’t have access to the Internet at home.

Only 8% of SA households speak English

Only 8% of SA households speak English

According to the latest General Household Survey (GHS) conducted by Stats SA, only 8.4% of SA’s households speak English.

Piped water access has seen a decrease for the second year in a row

Piped water access has seen a decrease for the second year in a row

Stats SA in its recent report reveals key findings from the General Household Survey.

New emoji release to include Ginger people, superheroes & more!

New emoji release to include Ginger people, superheroes & more!

The Unicode Consortium has announced Emoji 11.0, a brand new batch of emojis that will be released on 5 June 2018.

Popular articles
[VIDEO] Boy kicking car after it knocks mom on zebra crossing goes viral

[VIDEO] Boy kicking car after it knocks mom on zebra crossing goes viral

Khabazela shares tweets and Facebook posts that have gone viral.

Springboks can earn up to R58k for sponsored posts thanks to social media hype

Springboks can earn up to R58k for sponsored posts thanks to social media hype

The Springbok team can now charge way more than before for sponsored content that's posted on its official social media pages.

Zephany Nurse tells story 'in her own words' on Cape Talk

Zephany Nurse tells story 'in her own words' on Cape Talk

The 22-year-old, known now as Miche Solomon will be talking to John Maytham live on Cape Talk on Thursday 15 August at 4pm.

Neglecting the boy child could have serious consequences

Neglecting the boy child could have serious consequences

An open line conversation sparked debate around the development of the girl and boy child. Who takes precedent?

Ex-Gauteng premier Mbhazima Shilowa on retirement and his next chapter

Ex-Gauteng premier Mbhazima Shilowa on retirement and his next chapter

Azania Mosaka sits down with ex-Gauteng premier Mbhazima Shilowa to reflect on his upbringing, political career and refined taste.