South Africa's Recession May Linger as Factory Production Slumps

South Africa’s first recession in eight years looks set to linger after factory production shrank the most in almost three years in April, said FirstRand Ltd.’s Rand Merchant Bank unit, the only one among 19 in a Bloomberg survey that correctly predicted the first-quarter contraction. Monthly manufacturing output has dropped more than April’s 4.1 percent slump only twice since the 2009 recession, and those declines were in months plagued by industry strikes.

    Before it's here, it's on the Bloomberg Terminal.
    LEARN MORE