Loading ...South Africa’s economy contracts most in nine years on mines
(Bloomberg) — South Africa’s economy contracted the most in nine years in the first quarter of 2018 as mining and factory output fell.
Gross domestic product shrank an annualized 2.2 percent in the first quarter of the year compared with the prior three months, Statistics South Africa said in a report released Tuesday in the capital, Pretoria. However, when measured against the first quarter of 2017, the economy expanded 0.8 percent.
South Africa’s economy contracts most in nine years on mines