Economy shrinks by 0.6% in third quarter

[The_Right_Honourable_Brit]

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%.[

Economy shrinks by 0.6% in third quarter | Business

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

www.fin24.com

 

[The_Right_Honourable_Brit]

Ferial Haffajee still blinded to the fact that there is no reform agenda going on:

https://twitter.com/i/web/status/1201812759933005824

 

[konfab]

I BET WAKANDA DIDN'T NEED ECONOMIC GROWTH
WAKANDA
4
EVA​

 

[Jet-Fighter7700]

I BET WAKANDA DIDN'T NEED ECONOMIC GROWTH
WAKANDA
4
EVA​

no Wakanda has flying ships
no need for growth, that's just an imperialist western concept, meant to hold us down.

 

[LCBXX]

Well I for one blame Whites and Apartheid. Other reasons are racist, counter-revolutionary and alt-right.

 

[Temujin]

no Wakanda has flying ships
no need for growth, that's just an imperialist western concept, meant to hold us down.

And a wall to keep immigrants out

 

[BBSA]

How is Ramaphosa's smart city doing?

 

[Jet-Fighter7700]

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.

 

[LCBXX]

How is Ramaphosa's smart city doing?

It's another 0.6% below grassroots level. Don't hold your breath.

 

[ɹǝuuᴉM]

With South Africa statistics is a fairly politicised, random affaire. Watch, the economy will grow by 3% in 4th quarter LOL

 

[R13...]

Ferial Haffajee still blinded to the fact that there is no reform agenda going on:

https://twitter.com/i/web/status/1201812759933005824

What is wrong with her assessment?

 

[Vrotappel]

What is wrong with her assessment?

She should blame the ANC. It's the ANC holding the country back.

 

[The_Right_Honourable_Brit]

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.

 

[Mila]

How is Ramaphosa's smart city doing?

He needs cheap labor

 

[OCP]

He needs cheap labor

He had a good idea about that this morning (one of the few times I would agree with him) but the DA says we can't do that .....

 

[DreamKing]

viva anc ...... viva .....