Q1 GDP declines by 3.2% for largest quarterly drop in decade - EWN

[ahlam1399]

Q1 GDP declines by 3.2% for largest quarterly drop in decade (https://news.google.com/__i/rss/rd/articles/CBMiWGh0dHBzOi8vZXduLmNvLnphLzIwMTkvMDYvMDQvcTEtZ2 RwLWRlY2xpbmVzLWJ5LTMtMi1mb3ItbGFyZ2VzdC1xdWFydGVy bHktZHJvcC1pbi1kZWNhZGXSAVxodHRwczovL2V3bi5jby56YS 8yMDE5LzA2LzA0L3ExLWdkcC1kZWNsaW5lcy1ieS0zLTItZm9y LWxhcmdlc3QtcXVhcnRlcmx5LWRyb3AtaW4tZGVjYWRlL2FtcA ?oc=5) EWNPRETORIA - South Africa?s economy nosedived 3.2% in the first quarter from the previous one as its manufacturing sector suffered, according to data that significantly lagged the 1.7% decline economists had expected and sent the rand sharply lower. Year-on-year growth in Africa?s most industrialised economy was zero compared with forecasts of growth of 0.7%. ?This was the largest economic contraction in almost a decade, ... It was largely driven by manufacturing, then mining,? Statistician-General Risenga Maluleke told a news conference. At 0950 GMT, the rand was around 1.2% weaker against t...



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