September 4, 2018 / 9:33 AM / 2 months ago

South African fixed capital formation down 0.5 pct in Q2 - stats office

PRETORIA, Sept 4 (Reuters) - Gross fixed capital formation in the South African economy contracted by 0.5 percent in the second quarter after a revised 3.4 percent contraction in the first quarter, Statistics South Africa data showed on Tuesday.

South African President Cyril Ramaphosa has staked his reputation on wooing foreign investment and kick-starting economic growth. But Stats SA data also showed the economy entered a recession in the second quarter. (Reporting by Mfuneko Toyana and Nomvelo Chalumbira Writing by Alexander Winning Editing by James Macharia)

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