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MZANSI ECONOMY DROPS!
Statistician-General Risenga Maluleke and STATS Director General: Economic Statistics Joe De Beer during a media briefing about SA’s economic situation. Photo by Morapedi Mashashe  ~ 

IT’S the worst drop in Mzansi’s economic history since 2009.

The country’s economy became smaller by 3,2% in the first quarter of 2019 compared to the 4th quarter last year when growth of 1,4% was experienced.

In the first quarter of 2009, the country’s GDP dropped by 6,1%.

Statistician-General Risenga Maluleke, briefing media in Tshwane yesterday, said the manufacturing sector decreased by 8.8%.

“Seven of the 10 manufacturing divisions reported negative growth rates,” he said.

Exports fell by 26,4% and agriculture contracted by 13,2%.

Mining reduced by 10,8%, and exports and imports went down by 26,4% and 4,8%, respectively.

Government spending increased by 1,3% and government services spending increased by 1,2% due to increased employment.

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