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Showing posts from September, 2018

SA in Recession even though Mining is contributing positively to the GDP

The mining and quarrying sectors in South Africa has contributed positively to GDP in the second quarter according to data released by Statistics SA. Unfortunately, this has not prevented a recession in the country, which has been attributed to the agricultural and communications sectors. Mining increased by 4,9% and contributed 0,4 of a percentage point to GDP growth The agriculture, forestry and fishing industry and the transport, storage and communication industry were the largest negative contributors to growth in GDP in the second quarter. The agriculture, forestry and fishing industry decreased by 29,2% and contributed -0,8 of a percentage point to GDP growth. The decrease was mainly because of a drop in the production of field crops and horticultural products. https://www.miningreview.com/mining-in-sa-delivers-impressive-growth-in-q2-but-not-enough-to-prevent-a-recession/ http://www.statssa.gov.za/?p=11516