The South African economy contracted more than expected in the first quarter.
The Gross domesic product fell by 3.2% in the quarter — this is the largest quarterly drop in a decade.
The three largest negative contributors to the negative outcome include manufacturing, mining and trade.Statistician General Risenga Maluleke says electricity supply constraints contributed to the decline. To talk more on the state of the local economy and the rate of unemployment in the country, I’m now joined in studio by Professor Raymond Parsons from the North West University Business School and the Deputy General Secretary of the South African Federation of Trade Unions Moleko Phakedi.
For more news, visit: sabcnews.com