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LISTEN: Why GDP is contracting
Meanwhile household expenditure fell marginally as the downtrodden consumer shrank away from purchasing goods and services, in part due to near record low levels of confidence.
Economists cited load-shedding by Eskom as one of the main catalysts of the decline. Wherever the blame lies, what is certain is that President Ramaphosa's newly appointed cabinet has a monumental task to turn South Africa's ship around.
About the author
Digital content specialist
Lenyaro is a key member of Investec's Global Content team, based in Johannesburg, who focuses on relevant and topical issues for internal and external audiences including clients. She is a well-travelled multi-skilled multimedia journalist who previously held roles within eNews Channel Africa (eNCA) and Eyewitness News (EWN).
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