Article
SA agricultural economy contracted in Q2, 2019
Published: 03/09/2019
Although South Africa’s economy has recovered from the previous quarter’s economic performance with a 3.1% quarter-on-quarter seasonally adjusted growth rate (q/q saar), agriculture did not contribute to the improvement. After a strong contraction (16.8% -- revised numbers) during the first quarter of 2019, we were optimistic that things would turn around for South African agriculture. We hoped that base effects coupled with improved horticulture production would trigger a recovery for the sector. However, we were wrong.
Although South Africa’s economy has recovered from the previous quarter’s economic performance with a 3.1% quarter-on-quarter seasonally adjusted growth rate (q/q saar), agriculture did not contribute to the improvement. After a strong contraction (16.8% -- revised numbers) during the first quarter of 2019, we were optimistic that things would turn around for South African agriculture. We hoped that base effects coupled with improved horticulture production would trigger a recovery for the sector. However, we were wrong.