WATCH: The good and bad of second-quarter GDP

The state of the SA’s economy is critical in the assessment of how quickly we can move out of the Covid-19-induced hole we find ourselves in, particularly as the economy was so weak heading into the pandemic.

Fortunately, SA continues to benefit from the sustained global commodity upcycle as evidenced by Tuesday’s second-quarter GDP print, which showed 1.2% quarter-on-quarter seasonally adjusted growth.

On a year-to-year basis, GDP printed at 19.3%, but it is important to remember that that was off a low base from 2020 during the height of the lockdown restrictions.

Aside from the headline print, the underlying data is also worth noting, particularly fixed investment where recovery remains rather sluggish since the hard lockdowns of 2020. To comment on the economic causes and what “lifestyle changes” SA might consider making to address those causes to avoid another, more serious, “heart attack” in the future, Michael Avery is joined by Kevin Lings, Stanlib chief economist; Bonang Mohale, president of Business Unity SA, chancellor of the University of the Free State and chair of Bidvest; and Annabel Bishop, Investec chief economist.