THE embattled economy today received welcome relief after mining production in June surged 5 percent month-on-month despite a plunge in gold production in the period.
June’s print was also better than the 2 percent increase economists expected.
The troubled gold sector which is in the middle of protracted wage negotiations tanked 19.2 percent, extending its weakness.
On a yearly basis, the mining sector saw a rebound in output, registering a 2.8 percent in at the end of the second quarter, against a 1.8 percent drop in May.
There were fears that the country was racing towards recession after the manufacturing data for the second quarter came poor last week.