SA’s economy enters into a technical recession

Statistics South Africa has announced that the South African economy is officially in recession. The South African gross domestic product contracted by one-point-four percent in the fourth quarter of last year. This follows a decline of zero-point-eight percent. The latest figure has plunged the country into a technical recession, following two-quarters of negative growth. StatsSA’s Michael Manamela says the primary industries that led to the decline were transport, trade, communication as well as the manufacturing sector.

Providing a breakdown of what this really means, Dawie Roodt, Economist