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SA’s economy contracts 2% in Q1 as recession deepens

GDP shrank 0.1% year-on-year in the first quarter after falling 0.5% in the previous quarter. 
Image: Waldo Swiegers/Bloomberg

South Africa’s gross domestic product contracted 2.0% in the first quarter of 2020, following a contraction of 1.4% in the final quarter of last year when the economy entered recession, data from Statistics South Africa showed on Tuesday.

GDP shrank 0.1% year-on-year in the first quarter after falling 0.5% in the previous quarter.

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That’s good news compared to what the second quarter is going to look like.

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