Gloomy data from the Reserve Bank on Thursday underscored the fragile nature of SA’s economic recovery, with new private sector capital spending falling almost 10% in the first quarter of 2019.

Gross fixed capital formation — a gauge of new investment into the economy — fell 4.5% in the first quarter of 2019 from the prior three months, the Reserve Bank said on Thursday, as SA’s economy extended its weakening cycle to the 67th month in a row.

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