Resurgent mining could stop SA’s slide into recession
Production increased dramatically in March but manufacturing may offset some of the gains
SA could be well on its way to avoiding a recession, courtesy of a resurgent mining sector. The sector was set to make a positive contribution to the first quarter GDP and may just help the country stem its slide into a recession. Mining production increased drastically, 15.5% year on year in March and 3.5% in the first quarter on the back of an improvement in commodity prices and an uptick in demand. It is the highest quarterly growth performance for the sector since the second quarter of 2016. Mining contributes just more than 7% to the GDP. After being one of the largest negative contributors to the 2016 fourth-quarter GDP growth, the mining sector is set to be one of the largest positive contributors. If you are already a subscriber, please click on the following link below to go to the full article: Mining may help stem SA’s slide into recession If you would like to subscribe to BusinessLIVE Premium to read the full story, please click here: Subscribe Premium content is not ...
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