Long SA recession a grim harbinger
Mining and manufacturing biggest drags on growth
SA’s economy is in its longest recession since the global financial crisis with little sign of light at the end of the tunnel.
Gross domestic product shrank 2% in the first quarter of 2020, figures issued by Stats SA showed on Tuesday, confirming the difficulties the country faced even before the Covid-19 pandemic prompted the government to close most of the economy. It was the third successive drop in GDP, which has not happened since 2009, when it contracted for four quarters.