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South Africa's economy contracts 2% in the first quarter as recession deepens

Other News Materials 30 June 2020 13:46 (UTC +04:00)

South Africa’s gross domestic product contracted 2.0% in the first quarter of 2020, following a contraction of 1.4% in the final quarter of last year when the economy entered recession, data from Statistics South Africa showed on Tuesday, Trend reports with reference to Reuters.

GDP shrank 0.1% year-on-year in the first quarter after falling 0.5% in the previous quarter.

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