South Africa slips into recession, social media reacts

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 pic.twitter.com/tjLmOtYWHq

— Brent Janse van Vuuren (@BrentJvV) June 6, 2017

South Africa officially in #recession. Live reaction from the government's economic team at the Corruption Palace: pic.twitter.com/HlKxsr2Jib

— J Curve Capital (@JCurveCap) 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

https://twitter.com/OsasCruz/status/872070352624648198

News just in: Stats SA has announced that the South African economy has slipped into #recession. #sabcnews pic.twitter.com/d9u7h3nLNZ

— Mweli Masilela (@mwelimasilela) June 6, 2017

2 Junk status now we've hit #recession 🔚🇿🇦 pic.twitter.com/2WsxtEyj3a

— KAMOGELO TSIME (@KayTsime) 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: pic.twitter.com/fbiBbZUTeE

— Kevin Crowley (@CrowleyKev) June 6, 2017

https://twitter.com/LaurynLMK/status/872079903612600321

#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

— Ndlebentle_Zombini (@NZombini) June 6, 2017

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

— Mother Of Troy👑🇵🇸 (@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

— For A Marxism Without Guarantees (@phethani4) June 6, 2017

Staff Writer