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SA slips into recession as GDP contracts in second quarter

Statistics South Africa released the figures on Tuesday, saying that this is the second drop, following a decrease of 2.6% in the first quarter of the year.

Statistics generic. Picture: Freeimages.

JOHANNESBURG - Gross domestic product fell by 0.7% in the second quarter of 2018.

Statistics South Africa released the figures on Tuesday, saying that this is the second drop, following a decrease of 2.6% in the first quarter of the year.

The largest negative contributors to growth in GDP were agriculture, transport and trade.

Economist Nikki Weimar: "It's not really that surprising. We had the monthly numbers that indicated to us the underlying activity remained exceptionally weak in the second quarter and the big question, really, was around some sectors that we didn't have or don't have regular monthly statistics for."

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