Close Menu
TechCentralTechCentral

    Subscribe to the newsletter

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    Facebook X (Twitter) YouTube LinkedIn
    WhatsApp Facebook X (Twitter) LinkedIn YouTube
    TechCentralTechCentral
    • News
      Home affairs pulls the plug on the green ID book - Leon Schreiber

      Home affairs pulls the plug on the green ID book

      1 October 2026
      South Africa's digital ID is here - but you can't have it yet - Leon Schreiber

      South Africa’s digital ID is here – but you can’t have it yet

      1 October 2026
      Lexi Novitske, general partner at Norrsken22, on the TechCentral Show

      TCS | Norrsken22’s Lexi Novitske on how China is winning African tech

      1 October 2026
      Eskom waives rooftop solar fees, but the registration fight isn't over

      Eskom waives rooftop solar fees, but the registration fight isn’t over

      1 October 2026
      Absa is moving cash out of its branches

      Absa is moving cash out of its branches

      1 October 2026
    • World
      BMW restructuring plan bets on AI and new models

      BMW restructuring plan bets on AI and new models

      1 October 2026
      OpenAI's rogue agent problem keeps getting bigger - Sam Altman

      OpenAI’s rogue agent problem keeps getting bigger

      28 September 2026
      The new battle over the desktop

      The new battle over the desktop

      23 September 2026
      AMD is now worth a trillion dollars - Lisa Su

      AMD is now worth a trillion dollars

      22 September 2026
      Anthropic weighs new model launch to blunt OpenAI's Astra surge - Anthropic CEO Dario Amodei and OpenAI CEO Sam Altman

      Anthropic weighs new model launch to blunt OpenAI’s Astra surge

      21 September 2026
    • In-depth

      10 days that changed the course of AI

      21 September 2026
      Meta to the AI industry: slow down without us - Mark Zuckerberg

      Meta to the AI industry: slow down without us

      16 September 2026
      Google DeepMind CEO Demis Hassabis. Image: John Sears

      The plan to stop AI from breaking the world

      16 July 2026
      The internet has a Strait of Hormuz problem

      The internet has a Strait of Hormuz problem

      15 July 2026
      AI boom sparks rally, frenzy and fear

      AI boom sparks rally, frenzy and fear

      11 June 2026
    • TCS
      TCS | Dominic White and Adam Ely on AI agents going rogue

      TCS | Dominic White and Adam Ely on AI agents going rogue

      29 September 2026
      TCS | Octotel's Trevor van Zyl on the fibre merger question

      TCS | Octotel’s Trevor van Zyl on the MetroFibre merger question

      16 September 2026
      Meet the CIO | Shoprite's Chris Shortt on what a supermarket becomes

      Meet the CIO | Shoprite’s Chris Shortt on what a supermarket becomes

      9 September 2026
      Rubicon's EV charging network is profitable - and growing fast - Watts & Wheels

      W&W | Rubicon’s EV charging network is profitable – and growing fast

      8 September 2026
      Winstone Jordaan on building a national EV charging network

      Winstone Jordaan on building a national EV charging network

      2 September 2026
    • Opinion
      South Africa's next energy crisis is in the accounts department - Craig Holmes

      South Africa’s next energy crisis is in the accounts department

      29 September 2026
      The steam engine lesson AI doomsayers keep missing - Sam Clarke

      The steam engine lesson AI doomsayers keep missing

      28 September 2026
      Regulating AI: apply the laws we have first - Dirk de Vos

      Regulating AI: apply the laws we have first

      21 September 2026
      What Revolut can and cannot take from South Africa's banks - Pambos Soteriades

      What Revolut can and cannot take from South Africa’s banks

      15 September 2026
      The end is nigh, and the shares go on sale in October - Duncan McLeod

      The end is nigh, and the shares go on sale in October

      14 September 2026
    • Company Hubs
      • 1Stream
      • Africa Data Centres
      • AfriGIS
      • Altron Digital Business
      • Altron Document Solutions
      • Altron Group
      • Arctic Wolf
      • Ascent Technology
      • AvertITD
      • BBD
      • Braintree
      • CallMiner
      • CambriLearn
      • CM.com
      • Contactable
      • CYBER1 Solutions
      • Digicloud Africa
      • Digimune
      • Domains.co.za
      • ESET
      • Euphoria Telecom
      • HOSTAFRICA
      • Incredible Business
      • iONLINE
      • IQbusiness
      • Iris Network Systems
      • Kaspersky
      • LSD Open
      • Mitel
      • NEC XON
      • Netstar
      • Network Platforms
      • Next DLP
      • Ovations
      • Paracon
      • Paratus
      • Publishared
      • Q-KON
      • SevenC
      • SkyWire
      • Solid8 Technologies
      • Telit Cinterion
      • Telviva
      • Tenable
      • Vertiv
      • Videri Digital
      • Vodacom Business
      • Vox
      • Wipro
      • Workday
      • XLink
    • Sections
      • AI and machine learning
      • Banking
      • Broadcasting and Media
      • Cloud services
      • Contact centres and CX
      • Cryptocurrencies
      • Education and skills
      • Electronics and hardware
      • Energy and sustainability
      • Enterprise software
      • Financial services
      • HealthTech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Lifestyle
      • Policy and regulation
      • Public sector
      • Retail and e-commerce
      • Satellite communications
      • Science
      • SMEs and start-ups
      • Social media
      • Talent and leadership
      • Telecoms
      • Watts & Wheels
    • Events
    • Advertise
    TechCentralTechCentral
    Home » News » SA avoids a recession

    SA avoids a recession

    By Agency Staff6 September 2016
    Twitter LinkedIn Facebook WhatsApp Email Telegram Copy Link
    Get breaking news on WhatsApp

    economy-gdp-growth-640

    South Africa’s economy avoided a second recession in seven years as mining and factory output rebounded.

    GDP rose an annualised 3,3% in the second quarter, compared with a 1,2% contraction the previous three months, the statistics office said in a report released on Tuesday in Pretoria. The median of 19 economist estimates compiled by Bloomberg was for 2,6% growth. The economy expanded 0,6% from a year ago.

    Political turmoil, fuelled by reports that finance minister Pravin Gordhan may be arrested and statements by ANC officials that some of the the Reserve Bank’s powers should be reconsidered, could overshadow the news of the economy rebounding in the second quarter.

    While factory output and retail sales expanded in the three months through June, the purchasing managers’ index fell below the neutral level of 50 last month, indicating future contraction in the manufacturing industry, and business confidence remains close to 13-year lows.

    Recent political events “detract from confidence and it detract from investment and it does detract from consumption,” George Glynos, MD and chief economist at ETM Analytics in Johannesburg, said by phone. “People just tend to become a lot more conservative with their spending behaviour and their investment behaviour when they don’t have confidence in the future.”

    Manufacturing, which accounts for about 13% of the economy, expanded at an annualised 8,1% and mining output increased by 11,8%, the statistics office said. Agriculture contracted by an annualised 0,8%, the sixth consecutive quarter of decline.

    Low commodity prices, the worst drought in more than a century and weak export demand have weighed on Africa’s most industrialised economy and it will probably not expand at all this year, according to the central bank.

    That complicates the task of the government seeking to reduce a 27% jobless rate and stave off a downgrade to junk by credit-rating companies who have said slow growth is a major risk for the nation’s creditworthiness.

    Since being reappointed in December, Gordhan has led the government’s efforts to retain an investment-grade debt assessment by meeting with business and labour leaders and investors to seek measures to boost growth and confidence.

    Gordhan returned to the post he held from 2009 until 2014 after President Jacob Zuma was forced to alter a decision to replace Nhlanhla Nene as finance minister with little-known lawmaker David van Rooyen.

    There is a risk that the ANC could turn to a more populist approach to address rising voter dissatisfaction after its worst election performance since Nelson Mandela led the party to power in 1994, Fitch Ratings said after the 3 August Aug local government vote.

    The rand has lost almost 6% against the dollar since the first reports on 22 August that Gordhan was summoned by police in relation to possible espionage charges for setting up a unit in the South African Revenue Service to spy on politicians when he headed the tax agency between 1999 and 2009.

    The rand gained 1,2% to R14,21/US$ by 11.57am in Johannesburg. Yields on rand-denominated government bonds due in December 2026 fell by five basis points to 8,82%.  — (c) 2016 Bloomberg LP

    • Reported with assistance from Simbarashe Gumbo
    Add TechCentral as a preferred source on GoogleFollow TechCentral on Google NewsGet breaking news on WhatsApp


    Jacob Zuma Pravin Gordhan Statistics South Africa Stats SA
    WhatsApp YouTube
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email Copy Link
    Previous ArticleAltron set to return to profit
    Next Article Is anyone actually running South Africa?

    Related Posts

    Why school fees keep rising faster than inflation - CamriLearn

    Why school fees keep rising faster than inflation

    30 September 2026
    South Afircan inflation breaks its upward run

    South African inflation breaks its upward run

    19 August 2026
    Eskom

    Eskom fixed the fleet and the customers left

    7 August 2026
    Company News
    Cloud and AI won't deliver value on their own, executives warn

    Cloud and AI won’t deliver value on their own, executives warn

    1 October 2026
    Dell Technologies Forum 2026: what to expect in Johannesburg

    Dell Technologies Forum 2026: what to expect in Johannesburg

    1 October 2026
    What Smollan learnt moving 9 000 users to Google Workspace - Digicloud Africa

    What Smollan learnt moving 9 000 users to Google Workspace

    1 October 2026
    Opinion
    South Africa's next energy crisis is in the accounts department - Craig Holmes

    South Africa’s next energy crisis is in the accounts department

    29 September 2026
    The steam engine lesson AI doomsayers keep missing - Sam Clarke

    The steam engine lesson AI doomsayers keep missing

    28 September 2026
    Regulating AI: apply the laws we have first - Dirk de Vos

    Regulating AI: apply the laws we have first

    21 September 2026

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    Latest Posts
    Home affairs pulls the plug on the green ID book - Leon Schreiber

    Home affairs pulls the plug on the green ID book

    1 October 2026
    South Africa's digital ID is here - but you can't have it yet - Leon Schreiber

    South Africa’s digital ID is here – but you can’t have it yet

    1 October 2026
    Lexi Novitske, general partner at Norrsken22, on the TechCentral Show

    TCS | Norrsken22’s Lexi Novitske on how China is winning African tech

    1 October 2026
    Eskom waives rooftop solar fees, but the registration fight isn't over

    Eskom waives rooftop solar fees, but the registration fight isn’t over

    1 October 2026
    © 2009 - 2026 NewsCentral Media
    Built and maintained by Chronon
    • Cookie policy (ZA)
    • TechCentral – privacy and Popia

    Type above and press Enter to search. Press Esc to cancel.

    Manage consent

    TechCentral uses cookies to enhance its offerings. Consenting to these technologies allows us to serve you better. Not consenting or withdrawing consent may adversely affect certain features and functions of the website.

    Functional Always active
    The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
    Preferences
    The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
    Statistics
    The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
    Marketing
    The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
    • Manage options
    • Manage services
    • Manage {vendor_count} vendors
    • Read more about these purposes
    View preferences
    • {title}
    • {title}
    • {title}
    🇿🇦 Sign up to the TechCentral newsletter