South Africa Enters Recession

South Africa has entered into a technical recession as its gross domestic product contracted by 1.4% in the fourth quarter of 2019.

The data from the Statistics of South Africa on Tuesday showed a revised contraction of 0.8% experienced in the third quarter of 2019.

The successive quarterly economic decline had led to the technical recession of the country’s economy.

The country’s GDP sank by 0.5% year on year in the fourth quarter, after the economy had grown in the Q3.

The country’s economy however expanded by 0.2% in 2019 full year against 0.8% recorded in 2018.

Meanwhile, this is the second recession the country has witnessed in two years, with the first recorded in 2018.