Economy shrinks by 0.6% in third quarter

Chris_the_Brit

High Tory
Joined
Mar 6, 2004
Messages
26,829
SA's economy shrank by 0.6% in the three months to end-September, Stats SA announced on Tuesday.

This is the second time this year that SA's economy has contracted. In the second quarter of the year the economy grew by 3.1%, after shrinking by 3.2% in the first quarter.

Over the past seven quarters, South Africa's the economy has contracted four times, which included falling into a recession in 2018.

Stats SA said one of the biggest negative contributors to GDP in the third quarter was SA's struggling mining industry, which fell by 6.1%. The country's manufacturing industry decreased by 3.9%, while the transport, storage and communication sector shrank by 5.4%.

SA's trade, catering and accommodation sector, meanwhile, grew by 2.6%, largely as a result of positive growth in wholesale trade. Finance, real estate and business services increased by 1.6%, while general government services increased by 2.4%.[
 

eg2505

Honorary Master
Joined
Mar 12, 2008
Messages
16,576
How is Ramaphosa's smart city doing?
well the cadres smart BMW is doing just fine,

the smart city? maybe they stuck pictures of the internet over the shacks to show people what it might look like.
 

ɹǝuuᴉM

Expert Member
Joined
Dec 6, 2015
Messages
3,478
With South Africa statistics is a fairly politicised, random affaire. Watch, the economy will grow by 3% in 4th quarter LOL
 

Chris_the_Brit

High Tory
Joined
Mar 6, 2004
Messages
26,829
What is wrong with her assessment?
I don't believe that Ramaphosa has the cajones for real reform. She is basically he has a good reform plan but is being blocked. I do agree there are forces within the ANC vehemently opposed to Ramaphosa but also I don't believe there is a real reform plan either.
 
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