20°C / 22°C
  • Sat
  • 27°C
  • 10°C
  • Sun
  • 26°C
  • 8°C
  • Mon
  • 29°C
  • 12°C
  • Tue
  • 31°C
  • 11°C
  • Wed
  • 32°C
  • 14°C
  • Thu
  • 28°C
  • 13°C
  • Sat
  • 19°C
  • 10°C
  • Sun
  • 18°C
  • 10°C
  • Mon
  • 19°C
  • 13°C
  • Tue
  • 21°C
  • 13°C
  • Wed
  • 25°C
  • 14°C
  • Thu
  • 29°C
  • 15°C
  • Sat
  • 29°C
  • 12°C
  • Sun
  • 28°C
  • 11°C
  • Mon
  • 30°C
  • 13°C
  • Tue
  • 32°C
  • 14°C
  • Wed
  • 34°C
  • 15°C
  • Thu
  • 29°C
  • 15°C
  • Sat
  • 28°C
  • 7°C
  • Sun
  • 29°C
  • 7°C
  • Mon
  • 31°C
  • 8°C
  • Tue
  • 32°C
  • 13°C
  • Wed
  • 33°C
  • 13°C
  • Thu
  • 31°C
  • 14°C
  • Sat
  • 19°C
  • 16°C
  • Sun
  • 22°C
  • 16°C
  • Mon
  • 25°C
  • 16°C
  • Tue
  • 24°C
  • 17°C
  • Wed
  • 22°C
  • 18°C
  • Thu
  • 20°C
  • 17°C
  • Sat
  • 17°C
  • 11°C
  • Sun
  • 21°C
  • 12°C
  • Mon
  • 20°C
  • 13°C
  • Tue
  • 20°C
  • 13°C
  • Wed
  • 20°C
  • 16°C
  • Thu
  • 20°C
  • 14°C
  • Sat
  • 19°C
  • 6°C
  • Sun
  • 22°C
  • 10°C
  • Mon
  • 21°C
  • 12°C
  • Tue
  • 25°C
  • 11°C
  • Wed
  • 28°C
  • 13°C
  • Thu
  • 31°C
  • 16°C
  • Sat
  • 17°C
  • 10°C
  • Sun
  • 20°C
  • 11°C
  • Mon
  • 18°C
  • 13°C
  • Tue
  • 21°C
  • 13°C
  • Wed
  • 25°C
  • 14°C
  • Thu
  • 29°C
  • 16°C
  • Sat
  • 31°C
  • 11°C
  • Sun
  • 30°C
  • 11°C
  • Mon
  • 32°C
  • 15°C
  • Tue
  • 33°C
  • 14°C
  • Wed
  • 35°C
  • 15°C
  • Thu
  • 32°C
  • 17°C
  • Sat
  • 23°C
  • 5°C
  • Sun
  • 27°C
  • 8°C
  • Mon
  • 30°C
  • 9°C
  • Tue
  • 32°C
  • 12°C
  • Wed
  • 33°C
  • 14°C
  • Thu
  • 31°C
  • 12°C
  • Sat
  • 19°C
  • 13°C
  • Sun
  • 24°C
  • 13°C
  • Mon
  • 26°C
  • 13°C
  • Tue
  • 30°C
  • 12°C
  • Wed
  • 32°C
  • 12°C
  • Thu
  • 21°C
  • 14°C
  • Sat
  • 17°C
  • 7°C
  • Sun
  • 22°C
  • 9°C
  • Mon
  • 21°C
  • 12°C
  • Tue
  • 20°C
  • 11°C
  • Wed
  • 20°C
  • 14°C
  • Thu
  • 22°C
  • 12°C

Recession: Concerns some sectors entering negative territory

GDP narrowed by 0.7% in the first quarter of 2017, compared to a contraction of 0.3% in the last quarter of 2016.

Picture: EWN.

JOHANNESBURG - While there has been growth in mining and agriculture, there are concerns that a number of other sectors have contracted with some entering into negative territory.

Stats SA has released the latest GDP figures, showing that the country has entered a technical recession with growth contracting in two consecutive quarters.

GDP narrowed by 0.7% in the first quarter of 2017 compared to a contraction of 0.3% in the last quarter of 2016.

A Reuters poll of economists had predicted quarter-on-quarter growth of 0.9% for the first quarter.

But Standard Bank chief economist Goolam Ballim says a number of factors including political tensions have taken their toll.

“We have an economy that is in recession, and an economy that is suspended until a clearer perspective on the political cycle that will emerge in December.”

Retail trade sales were down almost 6%, while construction was down 1.3%.

However, despite the country entering into a technical recession, a few sectors managed to show positive signs.

First quarter agricultural growth was up 22.2%, which has been welcomed after years of drought.

Comments

EWN welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

- Racism (including offensive comments based on ethnicity and nationality)
- Sexism
- Homophobia
- Religious intolerance
- Cyber bullying
- Hate speech
- Derogatory language
- Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the EWN community a safe and welcoming space for all.

EWN reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

EWN is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

comments powered by Disqus