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


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