The next 6 to 18 months might be hard for the people of Mzansi.
There will be less jobs and less money to spend.
This is after Stats SA announced on Tuesday that Mzansi has entered a period of technical recession.
MORE PEOPLE UNEMPLOYED IN MZANSI!
Technical recession means the country has had two consecutive quarters of negative economic growth.
Stats SA said that Mzansi's economic activity decreased by 0,7% in the second quarter of 2018 after it also fell down by 2,6% in the first quarter of 2018.
Recession means there will be less work opportunities which might result in higher rate of unemployment.
It also makes it difficult to save money for the future.
During recession the quality of life and the standard of living for most people decreases.
Businesses also start to feel the pinch as consumers don't have a lot of money to spend.
This means it will be hard for businesses to grow and hire more people.
Stats SA said that the 0.7% drop in #GDP was due to a fall-off in activity in the agriculture, transport, trade, government and manufacturing industries.
This comes at a time when unemployment in South Africa has increased by 0.5% to 27.2% in the second quarter of 2018.
The South African #economy slipped into a #Recession as economic activity declined by 0,7% in Q2:2018 q/q after a 2,6% decline in Q1:2018 #StatsSA #GDP https://t.co/KjOdmHB0yN pic.twitter.com/aBnPccETmP
— Stats SA (@StatsSA) September 4, 2018
