Shocking GDP growth numbers

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South Africa’s real GDP growth contracted more than expected (-2.2%) during the first quarter of 2018 on an annualised, seasonally adjusted basis, following three successive quarters of above 2% quarter-on-quarter growth. The number rose by a modest 0.8% for the year to end March 2018.

The declines have taken place in mining and quarrying, manufacturing, and agriculture, forestry and fishing. Of concern is that these are the labour-absorbing sectors of the economy.

Listen in as Ryk van Niekerk and Goolam Ballim, chief economist and global head of Research for the Standard Bank Group, unpack these numbers on the Moneyweb@Midday show.