South Africa slips into recession
South Africa enters a recession as the country's Growth Domestic Product (GDP) contracts for a consecutive quarter.
The GDP has contracted 0.7% during the first quarter of 2017.
Statistics South Africa released the latest numbers today.
The contraction in the first quarter of the year follows a 0.3% contraction at the end of last year, officially placing the country in a recession.
Stats SA says the largest negative contributor to the GDP statistics was trade, catering and the accommodation industry, which decreased by 5.9%.
Efficient Group economist Francois Stofberg says: "Every one of the other major sectors in the country have also shrunk. It's not good news, especially for job creation."
Unemployment hit 27.7% in the first quarter, the highest level since 2003.