South African economy contracted unexpectedly in the three months ended June, after expanding the previous four quarters, figures from Statistics South Africa showed Tuesday.
Gross domestic product fell a seasonally and annualized 1.3 percent in the second quarter, confounding economists’ expectations for a 0.6 percent climb. In the first quarter, the economy grew 1.3 percent.
Manufacturing sector contributed negatively by 0.8 percent point based on a decrease of 6.3 percent in the second quarter. Production in the mining and quarrying sector dipped 6.8 percent and the agriculture, forestry and fishing industry output slumped by 17.4 percent.
On an annual basis, economic growth eased to 1.2 percent in the June quarter from 2.1 percent in the preceding quarter. The expected rate of expansion was 2.0 percent.
In the first half of this year, the unadjsuted real GDP adavanced 1.6 percent compared with the corresponding period of the previous year.
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