AGRICULTURAL NEWS - As South Africa’s GDP contracted yet again in the third quarter of the year, warnings have been sounded that another potential recession and job losses were looming.
According to Risenga Maluleke, Statistician-General at Statistics South Africa, the country’s GDP decreased 0,6% in the third quarter.
The largest negative contributors were mining, which contracted over 6%, and manufacturing with a decline of almost 4%.
The agriculture sector saw its third consecutive quarter of decline. Lower production recorded for field crops such as maize, wheat, sunflower seeds, tobacco, and soya bean were to blame for the 3,6% reduction in output, according to Wandile Sihlobo, head of economics and agribusiness intelligence at Agbiz.
