Economy barely grows in first quarter

Contractions in sectors lsuch as mining and manufacturing
offset a strong performance by agriculture.
 Image: 123RF

South Africa's economy stagnated in the first quarter, eking out quarter-on-quarter growth of just 0.1% as contractions in sectors such as mining and manufacturing offset a strong performance by agriculture.

Africa's biggest economy has struggled to build momentum since the 2008-2009 global financial crisis, with annual growth averaging less than 1% over the past decade.

Business and consumer confidence has picked up since the formation of a government of national unity (GNU) last year, but that is yet to translate into higher levels of output.

By Kopano Gumbi

Full story at Timeslive.