SA’s economy contracted 3.2% in the first quarter of 2019, marking the biggest quarterly decline in a decade.

All industries, except the government, finance and personal services, contracted during the period. The Reserve Bank recently cut its growth forecast for 2019 to 1% from 1.3% while the Treasury expects growth of 1.2%, down from 1.5%. The IMF has also revised its forecast down to 1.2%.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now