South Africa slips into recession, social media reacts

Twitter has reacted to recession in South Africa.

Statistics South Africa has announced on Tuesday that South African economy has entered a recession for the first time in eight years after showing negative GDP growth for a second consecutive quarter. The country’s gross domestic product (GDP) growth rate is at 1% on a year-on-year basis resulting in a technical recession.

According to the statistics agency, the economy contracted in the first quarter, led by weak manufacturing and trade sectors. Africa’s most developed economy contracted by 0.7 percent in the first quarter after shrinking by 0.3 percent in the fourth quarter of last year.

The largest negative contributor to growth in GDP in the first quarter was the trade, catering and accommodation industry, which decreased by 5.9% and contributed -0.8 of a percentage point to GDP growth.

Seven out of ten divisions reported negative growth rates in the first quarter. The largest contributor to the decrease was the petroleum, chemical products, rubber and plastic products division.

This is how South Africans to the news:

South Africa is officially in #recession. Is this the “radical economic transformation” President Jacob Zuma was talking about? #StatsSA

— Leandri J van Vuuren (@Lean3JvV) June 6, 2017

South Africa officially in #recession. Live reaction from the government’s economic team at the Corruption Palace:

— Andre (@Magic6s) June 6, 2017

We were promised 6% growth, we got #recession. We were promised 6m jobs, we got even higher unemployment than before. No more promises!

— Sizwe Mpofu-Walsh (@SizweMpofuWalsh) June 6, 2017

South Africa officially in #recession.

Nigeria Welcome You, For tips on How to Survive Recession, Our DM is Open, Feel Free to ask

— Naija Boy (@OsasCruz) June 6, 2017

News just in: Stats SA has announced that the South African economy has slipped into #recession. #sabcnews

— Mweli Masilela (@mwelimasilela) June 6, 2017

2 Junk status now we’ve hit #recession

— CoolestKidInAfrica (@KhristTsime) June 6, 2017

BREAKING — South Africa’s GDP contracts 0.7% in first quarter, meaning second #recession in 8 years. Here’s the rand’s reaction:

— Kevin Crowley (@CrowleyKev) June 6, 2017

Mr Gigaba we are still waiting for you and your wife to pick up the Rand boss. What’s taking so long? #recession

— Lauryn (@LaurynLMK) June 6, 2017

#Recession Economist Lumkile Mondi says SA will continue to see jobs being lost in the trade sector economy.

— POWER987News (@POWER987News) June 6, 2017

So @MYANC is still defending the president, over the people of South Africa who voted the ANC into power and not Mr Zuma.#recession

— NoⓂ️agugu Nguqu (@gugu_Nguqu) June 6, 2017

But I thought 2017 was suppose to be better than 2016 #recession

— MERCY (@LMabogoane) June 6, 2017

Alothough the #recession will burden mostly the working class
It is a necessary evil that will help to highlight the plight of our people

— Mme a nndwa dzothe (@phethani4) June 6, 2017

Staff Writer

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