This news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.
Fin24 reports that the SA economy unexpectedly contracted by 0.3% from the second quarter to the third quarter this year. Economists polled by Reuters had expected growth of 0.5%.
In the third quarter, the economy was only 0.3% larger than a year before. The main problem was agriculture, which shrank by almost 30% in the quarter. "Drought plagued the production of field crops such as maize, soya beans, wheat and sunflower. Adverse weather conditions also hindered the production of subtropical fruits, deciduous fruits and vegetables in parts of the country," Statistics SA noted. Excluding the agricultural sector, the economy would have expanded by 0.4%. But there was also a slowdown in transport services, trade (due in part to weak vehicle sales and slow business at restaurants and fast-food outlets) and government spending. Lower employment numbers in the civil service also dragged on economic growth. However, finance - SA's biggest economic sector - grew. Also, there were hopeful signs in other sectors. Stronger manganese and chromium ore production helped boost mining. Iron, steel and machinery production drove much of the upward momentum in manufacturing. The construction sector grew by 1.1% - the biggest increase in two years.
- Read the full original of the report in the above regard compiled by Helena Wasserman at Fin24 (subscription or trial registration required)
Get other news reports at the SA Labour News home page