Long SA recession a grim harbinger
Mining and manufacturing biggest drags on growth
30 June 2020 - 22:58
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...
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