Article
South African agricultural fortunes shrink in Q1, 2019
Published: 04/06/2019
South Africa’s agricultural economy started the year on a bad footing, contracting by 13.2% on a quarter-on-quarter seasonally-adjusted annualised rate (q/q saar). This came as a surprise as we expected a positive reading on the back of improvement in some horticultural subsectors, and the winter crops harvest. At the heart of it though, the contraction is in line with the numbers that are coming out of key horticultural industries that harvested during the first quarter of the year.
South Africa’s agricultural economy started the year on a bad footing, contracting by 13.2% on a quarter-on-quarter seasonally-adjusted annualised rate (q/q saar). This came as a surprise as we expected a positive reading on the back of improvement in some horticultural subsectors, and the winter crops harvest. At the heart of it though, the contraction is in line with the numbers that are coming out of key horticultural industries that harvested during the first quarter of the year.