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South Africa emerges from recession as farming, manufacturing jump

Reuters  |  PRETORIA 

By Olivia Kumwenda-MtamboPRETORIA (Reuters) - Farms and factories dragged South Africa out of its first recession in almost a decade, data showed on Tuesday, as the economy grew by more than expected in the third quarter.The positive data is a boost for President Cyril Ramaphosa, who has pledged to re-start growth after a decade of stagnation under his predecessor, Jacob Zuma. South Africa's economy expanded 2.2 percent in the third quarter from the second, snapping out of recession after a revised 0.4 percent contraction in the previous quarter, data from Statistics South Africa showed. The ...

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First Published: Tue, December 04 2018. 16:59 IST
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