SA economic recovery tenuous - Gordhan

However, the net growth trend was intact and the soccer World Cup was an opportunity to further boost the economy after last year's contraction, he told Reuters. South Africa's purchasing managers index fell below the key 50 mark in June, signalling contraction for the first time since October last year.

"These numbers merely indicate that whilst there is a net upward trend that there are issues of concern," Gordhan said at the Soccer City stadium.