THEBE MABANGA
SOUTH Africans can brace themselves for weeping and gnashing of teeth as Stats SA announced on Tuesday that the country’s gross domestic product (GDP) for the second quarter fell by 51%, an unprecedented plunge caused by the National Lockdown effected in April to contain the spread of COVID-19.
This was the fourth consecutive decline in quarterly GDP since the second quarter of 2019.
Not even the sectors that offer essential services and were operational through the lockdown could help an ailing economy, with only food production showing positive growth.
The agriculture, forestry and fishing industry was the only positive contributor to GDP growth, with an increase of 15,1% and a contribution of 0,3 of a percentage point to GDP growth.
The increase was mainly due to increased production of field crops, horticultural and animal products.
Stats SA says the manufacturing sector contracted by 74,9% in the second
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