WATCH: What the shocking GDP numbers mean for SA
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%.
Business Day TV spoke to Citadel chief economist Maarten Ackerman about what kind of growth, if any, SA is likely to see this year.
Citadel chief economist Maarten Ackerman talks to Business Day TV about the decline in economic activity in the first quarter
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