Business Lead South Africa

Rand plummets as SA economy falls into technical recession

JOHANNESBURG, September 4 -The rand slipped to R15.12 against the dollar after breaking through R15 to the dollar on Tuesday morning, following news that the South African economy had slipped into a technical recession. Statistics South Africa said that the economy contracted by 0.7 percent in the second quarter of the year, following a revised 2.6 percent shrinkage in […]

Business In The News South Africa

SA mining production surges 6.9% in August and exceeds expectations

JOHANNESBURG, October 12 – Mining production in South Africa increased by 6.9 percent year-on-year in August whilst seasonally adjusted mining production increased by 5.3 percent in the same month compared with July, Statistics South Africa (StatsSA) said on Thursday. StatsSA said the biggest contributors to the jump in production were iron-ore, diamonds and gold, adding 1.3 percentage points, […]

In The News South Africa

South Africa sheds 34, 000 so far in 2017 – StatsSA

PRETORIA, September 28  – A decline of 34,000 jobs was recorded in the second quarter of 2017 in South Africa’s formal non-agricultural sector, the Quarterly Employment Survey, released by StatsSA on Thursday, revealed. “That decrease is in manufacturing, construction, community services, transport … only mining and quarrying showed some increases in terms of employment. That is what […]