South Africa's manufacturing output contracts in February as recession looms

South Africa's manufacturing output plunged in February as a sustained slump in consumer and business confidence hit the economy's second biggest sector, raising worries of a recession.

Continued signs of weak growth could strangle economic activity and trigger further credit downgrades after last week's moves by S&P Global Ratings and Fitch to label South African bonds as "junk" after Jacob Zuma fired his finance minister.