S Africa sees surprise sharp downturn
South Africa's economy contracted by 1.2 percent at the start of the year in a surprise sharp downturn for Africa's most industrialised nation, official statistics showed Wednesday.
The country has been struggling with record unemployment, drought and political scandals, but most economists had forecast only a marginal contraction.
"GDP growth rate was -1.2 percent in the first quarter of 2016," Statistics South Africa said in a statement.
"The main contributors to the negative GDP growth rate were the mining and quarrying industry and the transport, storage and communication industry."
GDP dipped by 0.2 percent on a year-on-year basis, as South Africa teeters on the brink of its first recession since 2009.
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