JOHANNESBURG: A technical recession is characterized by two consecutive quarters of negative growth.
Finance Minister Nhlanhla Nene has given the assurance that the measures that are in place will make it possible for the economy to bounce back.
Growth fell by 0.7% in the second quarter following a 2.2 decline in the first quarter of 2018.
Analysts have advised South Africans to cut down on spending in order to survive the economic recession. Data released by Stats SA pointed to a technical recession in the second quarter of the year
This is the second recession in over a year. A technical recession is characterized by two consecutive quarters of negative growth.
The largest contributors to the slow down in growth came from the agriculture, transport and communication sectors.