South African economy contracts 51 per cent in Q2

Reuters Pretoria | Updated on September 08, 2020 Published on September 08, 2020

South Africa’s gross domestic product (GDP) contracted by 51 per cent quarter-on-quarter (q-o-q) in the second quarter of 2020, the fourth contraction in a row, data from the statistics agency showed on Tuesday.

GDP shrank 17.1 per cent year-on-year in the three months to the end of June, reflecting the impact of the country’s tough lockdown to contain the coronavirus.

(Reporting by Mfuneko Toyana Editing by Alexander Winning)

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Published on September 08, 2020
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