Monday, June 12, 2017
Sunday, June 11, 2017
South Africa falls into second recession in a decade
South Africa has fallen into recession for the first time in eight years after economic growth shrank by 0.7% between January and March. The downturn, due to weak manufacturing and trade, follows a 0.3% fall in GDP in the final quarter last year.
It is the first time that economic has slowed for two consecutive quarters – the technical definition of a recession – since 2009.