Jul 24, 2009
| Last Updated
- A shrinking manufacturing and mining sector and falling domestic demand pushed South Africa into its first recession in 17 years;
- The Reserve Bank’s monetary easing should help stimulate growth;
- Infrastructure and investment for the 2010 World Cup football (soccer) tournament could partially offset the external slump.
Dismal performance by the manufacturing and mining sector, which accounts for a third of exports, dragged the South African economy to its second consecutive quarter of contraction in Q1 2009. The negative growth of 6.4% in Q1 pushed it into its first[...]
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