SA’s economy contracted 3.2% in the first quarter of 2019, the worst drop since the same period in 2009 in the wake of the global financial crisis. This follows growth of 1.4% in the fourth quarter of 2018.In the first quarter of 2009, the economy contracted 6.1%.The manufacturing sector contributed most to the quarterly contraction, falling 8.8%, statistician-general Risenga Maluleke said on Tuesday.However, activity fell in almost every sector of the economy.The rand, which was at R14.46/$ immediately before the announcement, slid to R14.64/$ shortly after 12pm, a 1.4% fall on the day.

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