The South African economy shrank by 0.1% in the first quarter, figures showed Tuesday, days after the ruling ANC lost its parliamentary majority in a landmark election.
The January-to-March contraction follows a revised 0.3% expansion in the Past three months of 2023, which, coming after another period of negative growth, narrowly avoided a recession, the national statistics agency StatsSA said.
"Weaker manufacturing, mining and construction drove much of the downward momentum on the production side of the economy, while the expenditure side witnessed a decline across all components," StatsSA said.
Mining output contracted by 2.3%, with platinum group metals, coal, gold and manganese ore the largest drags on growth, it added.
The construction industry was down 3.1%, while agriculture was the largest positive contributor recording a 13.5%expansion, "spurred on mainly by a buoyant horticulture sector that recorded a rise in the production of fruit."
Burdened by rolling power cuts and high unemployment, South Africa's stagnant economy was a key issue in last week's national vote.
The election saw the ANC winning only 40% of preferences, a catastrophic slump from the 57.5% it won in 2019.
The party is now in talks with other groups to secure enough parliamentary support to form a government and elect a president.
AFP