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SA enters recession as GDP contracts for a consecutive quarter

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Pretoria – Gross domestic product contracted 0.7% for the first quarter of 2017, indicating that the country has entered into a technical recession, according to deputy director general of Economic Statistics at Statistics South Africa (Stats SA) Joe de Beer.

The latest GDP data was released by Stats SA on Tuesday.

The contraction follows the GDP decline of 0.3% in the fourth quarter of 2016. In 2016, the economy grew only 0.3% for the year.

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