Bad news for SA's GDP

While many South Africans sit with their fingers crossed most days, hoping the country's economic situation will soon start to improve, it seems this is not the case.

Statistics South Africa recently announced that the country's Gross Domestic Production (GDP) contracted by some 1.3% in Q2 of 2015.

SA Statistician General and the Head of Statistics South Africa, Pali Lehohla, said South Africa's National Development Plan (NDP) goal of attaining 6% growth was still a long way off.

According to the figures, real GDP increased by 1.2% year-on-year, and 1.6% for the first half of 2015. It is believed that the manufacturing industry, the mining and quarrying industries, and the agriculture, forestry and fishing industries are to blame for the decline in economic activity for Q2.

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