South Africa’s GDP contracts 2%, entrenches recession - The Mail & Guardian

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Stats SA’s latest GDP figures show the country’s economy has shrunk 2% in the first quarter of 2020

and the subsequent economic devastation. The country entered into a technical recession in the fourth quarter of 2019, after two consecutive quarters of economic decline.

“The electricity, gas and water industry contracted by 5.6% in the first quarter, largely due to decreases in electricity distributed and water consumption,” according to the report. The release of the latest GDP figures is three weeks behind schedule, according to Maluleke. Lockdown measures, which placed tough restrictions on social and economic activity, also affected the work of the statistical services.

 

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