14.09.2015

SA's agri sector "technically" in recession

South Africa’s agriculture sector is technically in recession after posting significant decline over the last two quarterly surveys.  This is according to Agbiz CEO John Purchase, who says the 17,4% decline in the second quarter came after the sector had already declined by around 16% in the first quarter of the year.
- OFM 

"With the 17% drop that we've had now we are technically in the agriculture sector in a recession. But we also know agriculture is very seasonal. It is so that we had a major drought last year and that drought is continuing in many areas. So the drought has played a major role in that drop in GDP and it probably could continue into the third quarter."   Read more

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