Mining output contracts for eighth consecutive month
But seasonally adjusted mining production rose 3.2% in the second quarter of 2019 compared with a contraction in the first quarter
Mining production saw a steeper-than-expected contraction in June but rebounded in the second quarter of the year, which will boost GDP.
The sector has been hard hit by high input costs, particularly in the gold sector, waning global demand and subdued commodity prices.
Mining production decreased 4.2% year on year in June, after a contraction of 1.5% in May, data from Statistics SA showed on Thursday. This is the eighth consecutive contraction for the sector and a worse outcome than the 2.2% contraction economists polled by Bloomberg had expected.
Seasonally adjusted mining production increased by 3.2% in the second quarter of 2019 compared with a contraction in the first quarter when the sector was battered by load-shedding.
Read more article on B-Day Live News