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Manufacturing, mining weigh on second-quarter economic growth; GDP contracts by 0.2% q/q
Manufacturing, mining weigh on second-quarter economic growth; GDP contracts by 0.2% q/q
South Africa's gross domestic product (GDP) contracted by 0.2% quarter-on-quarter for the second quarter, following growth of 0.4% in the first quarter of the year, Statistics South Africa (Stats SA) reports.
The manufacturing industry contracted by 1.8%, contributing -0.2 of a percentage point, to the overall GDP figure. Seven of the ten manufacturing divisions reported negative growth rates. The largest negative contributions were reported for the food and beverages; furniture and 'other' manufacturing…
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