SA hit by 1st recession since 2009: Thabi Leoka
4,794 views · Published 4 September 2018 · 17:42 · Indexed 23 September 2026
Channel: SABC News · 2018 · News & Politics
The chart of the day follows the worst economic news possible! It was confirmed today that South Africa slipped into a recession in the second quarter of the year. A recession occurs when the economy contracts for two quarters in a row. The implications are huge. That sector declined by 29% in the second quarter after a 37% decline in the first quarter. Today's GDP data is worse than expected. Many economists were hoping we'd just escaped a recession. The rand tanked on the news today. It weakened by more than two and a half percent against the dollar. I'm joined now by Economist, Thabi Leoka. For more news, visit: sabcnews.com
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