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Tuesday, 26th May 2009 at 7:53 pm by Rander
We heard Maki’s views yesterday with regards to the recession in South Africa. Today it is now official that South Africa is in a recession according to the statistics released. South Africa’s real gross domestic product (GDP) dropped on a quarter-on-quarter basis by -6.4% in the first quarter of 2009, from -1.8% in the fourth quarter of 2008.This signals the first recession in 17 years for South Africa. Before the release of these figures today, analysts had predicted growth to decrease by 3.9% so considering that it came in at 6.4% was a big shock.
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Charles on 27 May, 2009 at 1:28 pm #
This is considerably more than economists predicted - let’s hope for a decent interest rate reduction when the MPC meets on Thursday!
Mthakaseleni Wilson Simelane on 4 May, 2010 at 3:42 pm #
Nor greatings,
Why the economist to predict to planned the issued sbout the economy in the country. I notice that through to the business cycle for thier four categories i.e xpansionary, peak, contraction, and trough Comments by the other junior economist respond soon to my number 0733160972 MW SIMELANE
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