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Africa’s powerhouses, Nigeria and South Africa say they are out of recession
Tuesday, September 5, 2017
Two of Africa’s leading economies say they have emerged from recession.
Nigeria and South Africa on Tuesday released figures showing economic growth in the second quarter of this year.
South Africa’s government says the gross domestic product (GDP) grew by 2.5 percent in the quarter, helped by the agriculture, forestry and fishing sectors. The country announced in June it had entered recession.
Nigeria’s government says its GDP grew by 0.55 percent in the quarter, aided by growing oil production. The West African power has struggled to diversify its economy beyond oil.
Nigeria has been in recession since last year.
Copyright 2017 The Associated Press
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